Rezolute’s (RZLT) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Rezolute (NASDAQ:RZLT) in a report issued on Thursday morning,Benzinga reports. HC Wainwright currently has a $14.00 target price on the stock.

A number of other equities research analysts also recently weighed in on the company. Craig Hallum upgraded Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th. JMP Securities raised their price target on Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a research report on Thursday. Guggenheim reiterated a “buy” rating on shares of Rezolute in a report on Monday, February 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $112.00 price objective on shares of Rezolute in a report on Monday, November 4th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $24.38.

Rezolute Price Performance

Rezolute stock opened at $4.61 on Thursday. Rezolute has a one year low of $1.13 and a one year high of $6.19. The business has a fifty day moving average price of $4.86 and a 200-day moving average price of $4.90. The firm has a market capitalization of $279.07 million, a P/E ratio of -3.63 and a beta of 1.10.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. Sell-side analysts expect that Rezolute will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Rezolute

In other news, CFO Daron Evans acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the acquisition, the chief financial officer now directly owns 150,900 shares in the company, valued at approximately $647,361. The trade was a 7.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 18.39% of the company’s stock.

Hedge Funds Weigh In On Rezolute

A number of hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in Rezolute during the 3rd quarter valued at $42,000. Charles Schwab Investment Management Inc. grew its position in shares of Rezolute by 65.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock valued at $112,000 after acquiring an additional 9,000 shares during the period. Virtu Financial LLC grew its position in shares of Rezolute by 58.0% during the 3rd quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock valued at $126,000 after acquiring an additional 9,551 shares during the period. Alpine Global Management LLC bought a new stake in shares of Rezolute during the 4th quarter valued at $54,000. Finally, MML Investors Services LLC bought a new stake in shares of Rezolute during the 3rd quarter valued at $57,000. 82.97% of the stock is currently owned by hedge funds and other 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.