Rezolute’s (RZLT) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Rezolute (NASDAQ:RZLT) in a research note issued to investors on Friday, Benzinga reports. The firm currently has a $7.00 price target on the stock.

Several other analysts have also commented on the stock. Craig Hallum assumed coverage on shares of Rezolute in a research report on Tuesday, June 4th. They issued a buy rating and a $14.00 price target on the stock. 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 report on Tuesday, August 6th. HC Wainwright reiterated a buy rating and issued a $14.00 price target on shares of Rezolute in a research report on Monday, September 9th. BTIG Research increased their price target on shares of Rezolute from $13.00 to $15.00 and gave the company a buy rating in a research report on Tuesday, September 10th. Finally, Guggenheim initiated coverage on shares of Rezolute in a research note on Tuesday, August 27th. They set a buy rating and a $11.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $11.57.

Rezolute Trading Up 5.4 %

Shares of RZLT opened at $5.08 on Friday. The firm’s 50-day moving average is $4.62 and its two-hundred day moving average is $3.74. Rezolute has a twelve month low of $0.72 and a twelve month high of $6.10. The firm has a market capitalization of $203.89 million, a P/E ratio of -4.46 and a beta of 1.18.

Rezolute (NASDAQ:RZLT) last released 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). Analysts predict that Rezolute will post -1.15 EPS for the current year.

Hedge Funds Weigh In On Rezolute

Several institutional investors and hedge funds have recently modified their holdings of the company. Jeppson Wealth Management LLC purchased a new position in Rezolute during the second quarter worth approximately $45,000. Virtu Financial LLC purchased a new position in Rezolute during the first quarter worth approximately $37,000. XTX Topco Ltd raised its stake in Rezolute by 205.8% during the second quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock worth $145,000 after purchasing an additional 22,660 shares during the period. Cubist Systematic Strategies LLC raised its stake in Rezolute by 366.0% during the second quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock worth $233,000 after purchasing an additional 42,597 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in Rezolute during the second quarter worth approximately $255,000. Hedge funds and other institutional investors 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.