Rezolute, Inc. (NASDAQ:RZLT) Receives $11.57 Average Price Target from Brokerages

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) has earned a consensus rating of "Buy" from the seven ratings firms that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $11.57.

Several analysts have recently commented on the company. BTIG Research increased their target price on Rezolute from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. HC Wainwright restated a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a research report on Friday, September 27th. Maxim Group increased their price target on shares of Rezolute from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. JMP Securities reaffirmed a "market outperform" rating and set a $7.00 price objective on shares of Rezolute in a report on Friday, September 20th. Finally, Guggenheim started coverage on Rezolute in a research note on Tuesday, August 27th. They set a "buy" rating and a $11.00 price target on the stock.

Rezolute Stock Up 0.4 %

RZLT stock traded up $0.02 during trading on Friday, reaching $5.50. 249,135 shares of the stock were exchanged, compared to its average volume of 431,268. The stock has a 50 day simple moving average of $4.94 and a 200-day simple moving average of $4.29. Rezolute has a twelve month low of $0.72 and a twelve month high of $6.10.

Rezolute (NASDAQ:RZLT - Get Free Report) last issued its earnings results on Thursday, September 19th. The company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.14). On average, research analysts anticipate that Rezolute will post -1.23 earnings per share for the current year.

Institutional Investors Weigh In On Rezolute

A number of hedge funds have recently modified their holdings of RZLT. Jeppson Wealth Management LLC acquired a new stake in Rezolute in the 2nd quarter valued at approximately $45,000. Virtu Financial LLC bought a new position in Rezolute in the 1st quarter valued at approximately $37,000. XTX Topco Ltd boosted its position in Rezolute by 205.8% during the second quarter. XTX Topco Ltd now owns 33,671 shares of the company's stock valued at $145,000 after acquiring an additional 22,660 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Rezolute by 366.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company's stock valued at $233,000 after buying an additional 42,597 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in Rezolute in the 2nd quarter valued at about $255,000. Institutional investors and hedge funds own 82.97% of the company's stock.

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.