Rezolute’s (RZLT) Buy Rating Reaffirmed at Guggenheim

Guggenheim restated their buy rating on shares of Rezolute (NASDAQ:RZLT) in a research report report published on Monday,Benzinga reports. The brokerage currently has a $15.00 target price on the stock.

Several other research analysts have also recently commented on RZLT. BTIG Research reiterated a “buy” rating and set a $17.00 price target on shares of Rezolute in a report on Thursday, September 18th. Maxim Group boosted their price target on shares of Rezolute from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Wedbush reiterated an “outperform” rating and set a $12.00 price target on shares of Rezolute in a report on Thursday, September 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Rezolute in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $14.50.

Rezolute Stock Up 3.4%

Shares of RZLT opened at $8.81 on Monday. Rezolute has a fifty-two week low of $2.21 and a fifty-two week high of $9.02. The firm’s 50 day moving average price is $6.82 and its 200 day moving average price is $4.82. The company has a market cap of $800.04 million, a P/E ratio of -9.08 and a beta of 0.03.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Wednesday, September 17th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.03). Research analysts forecast that Rezolute will post -0.93 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Man Group plc acquired a new position in shares of Rezolute in the 4th quarter valued at $425,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Rezolute by 335.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 210,581 shares of the company’s stock valued at $611,000 after buying an additional 162,216 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Rezolute by 9.0% in the 1st quarter. Acadian Asset Management LLC now owns 605,042 shares of the company’s stock valued at $1,752,000 after buying an additional 50,163 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its holdings in shares of Rezolute by 56.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 118,900 shares of the company’s stock valued at $345,000 after buying an additional 42,900 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Rezolute in the 1st quarter valued at $95,000. 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.