Rezolute (NASDAQ:RZLT) Earns "Buy" Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Rezolute (NASDAQ:RZLT - Free Report) in a research note published on Friday morning,Benzinga reports. The brokerage currently has a $14.00 price objective on the stock.

A number of other equities analysts have also recently commented on RZLT. Guggenheim started coverage on shares of Rezolute in a report on Tuesday, August 27th. They issued a "buy" rating and a $11.00 target price on the stock. Wedbush reiterated an "outperform" rating and set a $112.00 target price on shares of Rezolute in a research note on Monday. JMP Securities restated a "market outperform" rating and issued a $7.00 price target on shares of Rezolute in a research report on Friday, September 20th. BTIG Research increased their price objective on Rezolute from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, September 10th. Finally, Maxim Group lifted their target price on Rezolute from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rezolute currently has a consensus rating of "Buy" and an average target price of $24.13.

Rezolute Stock Down 2.4 %

RZLT traded down $0.14 on Friday, reaching $5.58. The company's stock had a trading volume of 561,729 shares, compared to its average volume of 430,583. Rezolute has a fifty-two week low of $0.72 and a fifty-two week high of $6.10. The stock has a 50 day moving average of $5.05 and a two-hundred day moving average of $4.39. The company has a market capitalization of $312.09 million, a price-to-earnings ratio of -4.20 and a beta of 1.18.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced its quarterly earnings results on Thursday, September 19th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.14). As a group, analysts anticipate that Rezolute will post -1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rezolute

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. boosted its position in shares of Rezolute by 11.1% in the 2nd quarter. Federated Hermes Inc. now owns 11,279,327 shares of the company's stock worth $48,501,000 after buying an additional 1,125,000 shares in the last quarter. Affinity Asset Advisors LLC grew its position in shares of Rezolute by 15.6% in the second quarter. Affinity Asset Advisors LLC now owns 1,850,000 shares of the company's stock valued at $7,955,000 after purchasing an additional 250,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Rezolute by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company's stock worth $3,961,000 after purchasing an additional 145,700 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Rezolute during the 2nd quarter worth approximately $4,503,000. Finally, Rosalind Advisors Inc. lifted its stake in Rezolute by 25.0% in the 2nd quarter. Rosalind Advisors Inc. now owns 250,000 shares of the company's stock valued at $1,075,000 after buying an additional 50,000 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.