Rezolute (NASDAQ:RZLT) Given “Market Outperform” Rating at JMP Securities

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

Several other equities research analysts have also issued reports on the company. Craig Hallum began coverage on Rezolute in a research report on Tuesday, June 4th. They set a buy rating and a $14.00 price target on the stock. Maxim Group raised 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. HC Wainwright reissued a buy rating and issued a $14.00 price target on shares of Rezolute in a research note on Monday, September 9th. 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. Finally, BTIG Research boosted their price objective on Rezolute from $13.00 to $15.00 and gave the stock a buy rating in a research note on Tuesday, September 10th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of Buy and a consensus price target of $11.57.

Rezolute Price Performance

Shares of NASDAQ RZLT opened at $4.79 on Friday. The firm’s 50-day moving average is $4.62 and its two-hundred day moving average is $3.76. The company has a market capitalization of $192.25 million, a PE ratio of -4.20 and a beta of 1.18. Rezolute has a 12-month low of $0.72 and a 12-month high of $6.10.

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 analysts’ consensus estimates of ($0.30) by ($0.14). On average, analysts forecast that Rezolute will post -1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Rezolute

Several institutional investors and hedge funds have recently added to or reduced their stakes in RZLT. Affinity Asset Advisors LLC bought a new position in Rezolute in the first quarter worth $4,080,000. Federated Hermes Inc. raised its stake in Rezolute by 11.1% during the second quarter. Federated Hermes Inc. now owns 11,279,327 shares of the company’s stock worth $48,501,000 after acquiring an additional 1,125,000 shares in the last quarter. Marshall Wace LLP acquired a new position in Rezolute during the second quarter worth $4,503,000. Rosalind Advisors Inc. acquired a new position in Rezolute during the first quarter worth $510,000. Finally, Vanguard Group Inc. raised its stake in Rezolute by 10.4% during the first quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock worth $3,961,000 after acquiring an additional 145,700 shares in the last quarter. 82.97% of the stock is currently owned by 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.