Rezolute’s (RZLT) “Outperform” Rating Reiterated at Wedbush

Rezolute (NASDAQ:RZLT)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a research report issued on Wednesday,RTT News reports. They currently have a $12.00 price target on the stock. Wedbush’s target price suggests a potential upside of 237.08% from the company’s current price.

RZLT has been the subject of several other research reports. Guggenheim reissued a “buy” rating on shares of Rezolute in a report on Monday, February 10th. JMP Securities raised their target price on Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Craig Hallum upgraded Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research report on Monday, April 28th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Rezolute currently has an average rating of “Buy” and a consensus price target of $12.14.

Rezolute Trading Up 2.0%

RZLT opened at $3.56 on Wednesday. The firm has a 50 day moving average of $3.24 and a two-hundred day moving average of $4.32. Rezolute has a 12-month low of $2.22 and a 12-month high of $6.19. The firm has a market capitalization of $215.50 million, a PE ratio of -2.92 and a beta of 1.01.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.05). As a group, analysts predict that Rezolute will post -0.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Nevan C. Elam purchased 12,302 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average price of $2.85 per share, for a total transaction of $35,060.70. Following the purchase, the chief executive officer now directly owns 224,119 shares of the company’s stock, valued at $638,739.15. This represents a 5.81% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daron Evans purchased 10,000 shares of Rezolute stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average price of $2.89 per share, with a total value of $28,900.00. Following the transaction, the chief financial officer now owns 237,900 shares in the company, valued at $687,531. The trade was a 4.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 39,060 shares of company stock worth $130,694 in the last quarter. 18.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rezolute

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in shares of Rezolute during the third quarter worth about $42,000. Alpine Global Management LLC purchased a new stake in shares of Rezolute in the 4th quarter worth about $54,000. Jeppson Wealth Management LLC acquired a new stake in shares of Rezolute in the first quarter valued at approximately $35,000. Paloma Partners Management Co purchased a new stake in Rezolute in the 1st quarter valued at approximately $48,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Rezolute by 48.5% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,799 shares of the company’s stock valued at $97,000 after acquiring an additional 6,470 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.