JMP Securities Issues Positive Forecast for Rezolute (NASDAQ:RZLT) Stock Price

Rezolute (NASDAQ:RZLT - Free Report) had its price target increased by JMP Securities from $8.00 to $9.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Guggenheim restated a "buy" rating on shares of Rezolute in a report on Monday, February 10th. Wedbush restated an "outperform" rating and set a $112.00 price target on shares of Rezolute in a report on Monday, November 4th. HC Wainwright restated a "buy" rating and set a $14.00 price target on shares of Rezolute in a report on Wednesday, February 5th. Finally, Craig Hallum upgraded shares of Rezolute to a "strong-buy" rating in a report on Tuesday, February 4th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $24.38.

Rezolute Trading Down 4.2 %

NASDAQ:RZLT traded down $0.20 during trading hours on Thursday, hitting $4.61. 357,547 shares of the stock traded hands, compared to its average volume of 606,312. The firm has a 50 day moving average price of $4.86 and a 200 day moving average price of $4.90. Rezolute has a fifty-two week low of $1.13 and a fifty-two week high of $6.19. The firm has a market cap of $267.10 million, a price-to-earnings ratio of -3.63 and a beta of 1.10.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.11. Research analysts predict that Rezolute will post -0.99 EPS for the current year.

Insider Activity

In other Rezolute news, CFO Daron Evans acquired 10,000 shares of Rezolute stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of $4.29 per share, with a total value of $42,900.00. Following the completion of the purchase, the chief financial officer now owns 150,900 shares in the company, valued at $647,361. The trade was a 7.10 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Rezolute

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. bought a new position in Rezolute in the third quarter valued at approximately $42,000. Alpine Global Management LLC acquired a new stake in Rezolute in the fourth quarter worth $54,000. MML Investors Services LLC acquired a new stake in Rezolute in the third quarter worth $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Rezolute in the third quarter worth $65,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Rezolute by 65.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company's stock worth $112,000 after purchasing an additional 9,000 shares during the period. 82.97% of the stock is owned by institutional investors.

Rezolute Company Profile

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.