Guggenheim Cuts Rezolute (NASDAQ:RZLT) Price Target to $6.00

Rezolute (NASDAQ:RZLT) had its price target cut by Guggenheim from $15.00 to $6.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on RZLT. Craig Hallum cut shares of Rezolute from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a research report on Thursday. Citigroup downgraded shares of Rezolute from an “outperform” rating to a “market perform” rating in a report on Thursday. Wedbush lowered shares of Rezolute from an “outperform” rating to a “neutral” rating in a research report on Thursday. JMP Securities set a $17.00 target price on shares of Rezolute in a report on Wednesday, October 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $20.00 price target on shares of Rezolute in a research note on Friday, December 5th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.78.

Rezolute Trading Up 28.6%

Rezolute stock opened at $1.80 on Friday. The company has a market capitalization of $166.91 million, a price-to-earnings ratio of -1.94 and a beta of 0.21. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46. The stock’s 50 day moving average is $9.15 and its 200-day moving average is $7.19.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.09. As a group, equities research analysts predict that Rezolute will post -0.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RZLT. XTX Topco Ltd acquired a new position in Rezolute during the first quarter valued at approximately $95,000. American Century Companies Inc. boosted its holdings in shares of Rezolute by 5.2% in the 1st quarter. American Century Companies Inc. now owns 67,925 shares of the company’s stock valued at $197,000 after purchasing an additional 3,334 shares in the last quarter. Pale Fire Capital SE increased its stake in shares of Rezolute by 9.1% in the 1st quarter. Pale Fire Capital SE now owns 47,122 shares of the company’s stock valued at $137,000 after purchasing an additional 3,935 shares during the last quarter. Affinity Asset Advisors LLC raised its holdings in shares of Rezolute by 7.9% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,700,000 shares of the company’s stock worth $4,930,000 after buying an additional 125,000 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of Rezolute by 56.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 118,900 shares of the company’s stock worth $345,000 after buying an additional 42,900 shares during the last quarter. 82.97% of the stock is 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.