BTIG Research Reaffirms “Buy” Rating for Rezolute (NASDAQ:RZLT)

Rezolute (NASDAQ:RZLT)‘s stock had its “buy” rating reaffirmed by equities research analysts at BTIG Research in a research note issued on Thursday,Benzinga reports. They presently have a $5.00 price objective on the stock. BTIG Research’s price target would indicate a potential upside of 90.11% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Craig Hallum downgraded shares of Rezolute from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a research report on Thursday, December 11th. Maxim Group set a $4.00 target price on shares of Rezolute in a research note on Friday, December 12th. Wedbush cut Rezolute from an “outperform” rating to a “neutral” rating in a report on Thursday, December 11th. HC Wainwright dropped their price target on Rezolute from $14.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, December 12th. Finally, Guggenheim cut their price objective on Rezolute from $15.00 to $6.00 and set a “buy” rating for the company in a report on Friday, December 12th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.67.

Rezolute Price Performance

Rezolute stock opened at $2.63 on Thursday. Rezolute has a one year low of $1.07 and a one year high of $11.46. The business’s fifty day moving average is $6.44 and its 200 day moving average is $6.87. The stock has a market capitalization of $243.88 million, a PE ratio of -2.83 and a beta of 0.39.

Rezolute (NASDAQ:RZLT) last issued its earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. As a group, sell-side analysts expect that Rezolute will post -0.93 EPS for the current fiscal year.

Insider Buying and Selling at Rezolute

In other Rezolute news, CFO Daron Evans acquired 40,000 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was purchased at an average price of $1.77 per share, with a total value of $70,800.00. Following the transaction, the chief financial officer directly owned 415,900 shares in the company, valued at approximately $736,143. The trade was a 10.64% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nevan C. Elam bought 32,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was bought at an average cost of $1.59 per share, for a total transaction of $50,880.00. Following the completion of the acquisition, the chief executive officer owned 641,119 shares in the company, valued at $1,019,379.21. This trade represents a 5.25% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 89,100 shares of company stock worth $150,232 in the last quarter. Corporate insiders own 14.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new position in shares of Rezolute during the 2nd quarter valued at about $25,000. Ameritas Investment Partners Inc. bought a new stake in Rezolute during the 2nd quarter worth approximately $30,000. Legal & General Group Plc bought a new stake in Rezolute during the 2nd quarter worth approximately $32,000. Raymond James Financial Inc. purchased a new position in Rezolute during the second quarter valued at approximately $46,000. Finally, ProShare Advisors LLC bought a new position in shares of Rezolute in the second quarter worth approximately $61,000. 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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.