Rezolute (NASDAQ:RZLT) Stock Rating Reaffirmed by JMP Securities

Rezolute (NASDAQ:RZLT)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a research note issued to investors on Friday, Benzinga reports. They currently have a $7.00 price target on the stock. JMP Securities’ price target would suggest a potential upside of 37.80% from the stock’s previous close.

Several other brokerages have also issued reports on RZLT. Maxim Group lifted their target price on shares of Rezolute from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Guggenheim started coverage on shares of Rezolute in a research report on Tuesday, August 27th. They issued a “buy” rating and a $11.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research report on Monday, September 9th. BTIG Research boosted their price target on shares of Rezolute from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Craig Hallum assumed coverage on shares of Rezolute in a research report on Tuesday, June 4th. They set a “buy” rating and a $14.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $11.57.

Rezolute Stock Performance

RZLT opened at $5.08 on Friday. Rezolute has a fifty-two week low of $0.72 and a fifty-two week high of $6.10. The company has a fifty day moving average of $4.62 and a two-hundred day moving average of $3.73. The stock has a market capitalization of $203.89 million, a price-to-earnings ratio of -4.46 and a beta of 1.18.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Thursday, September 19th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.14). On average, equities research analysts forecast that Rezolute will post -1.15 earnings per share for the current year.

Institutional Investors Weigh In On Rezolute

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC increased its stake in Rezolute by 366.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock worth $233,000 after buying an additional 42,597 shares during the period. Affinity Asset Advisors LLC increased its stake in Rezolute by 15.6% during the 2nd quarter. Affinity Asset Advisors LLC now owns 1,850,000 shares of the company’s stock worth $7,955,000 after buying an additional 250,000 shares during the period. Marshall Wace LLP purchased a new stake in Rezolute during the 2nd quarter worth approximately $4,503,000. XTX Topco Ltd increased its stake in Rezolute by 205.8% during the 2nd quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock worth $145,000 after buying an additional 22,660 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in Rezolute during the 2nd quarter worth approximately $255,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

About Rezolute

Rezolute, Inc, a clinical stage biopharmaceutical company, develops therapies for metabolic diseases associated with chronic glucose imbalance in the United States. The company's lead product candidate is RZ358, a human monoclonal antibody that is in Phase 2b clinical trial for the treatment of congenital hyperinsulinism, an ultra-rare pediatric genetic disorder.