Rezolute (NASDAQ:RZLT) Rating Increased to Outperform at Wedbush

Wedbush upgraded shares of Rezolute (NASDAQ:RZLT) from a neutral rating to an outperform rating in a report issued on Wednesday, MarketBeat reports. Wedbush currently has $5.00 price target on the stock, up from their prior price target of $2.00.

Other research analysts have also recently issued reports about the company. Citizens Jmp cut Rezolute from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Craig Hallum lowered 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 Rezolute in a report on Friday, December 12th. HC Wainwright dropped their target price on Rezolute from $14.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, December 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rezolute in a research note on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.00.

Rezolute Price Performance

RZLT stock opened at $3.18 on Wednesday. The company has a 50 day simple moving average of $3.13 and a 200 day simple moving average of $5.84. The stock has a market cap of $304.33 million, a price-to-earnings ratio of -3.42 and a beta of 0.51. Rezolute has a 1 year low of $1.07 and a 1 year high of $11.46.

Rezolute (NASDAQ:RZLT) last issued its earnings results on Thursday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). On average, equities research analysts anticipate that Rezolute will post -0.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Rezolute

A number of institutional investors have recently modified their holdings of RZLT. Federated Hermes Inc. boosted its position in shares of Rezolute by 24.4% during the 2nd quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company’s stock valued at $62,595,000 after purchasing an additional 2,755,385 shares in the last quarter. Stonepine Capital Management LLC bought a new stake in Rezolute in the second quarter worth approximately $977,000. Mangrove Partners IM LLC increased its holdings in Rezolute by 25.4% in the third quarter. Mangrove Partners IM LLC now owns 2,882,149 shares of the company’s stock worth $27,092,000 after purchasing an additional 584,660 shares in the last quarter. 22NW LP acquired a new position in Rezolute in the third quarter valued at approximately $7,714,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Rezolute by 201.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company’s stock worth $7,633,000 after buying an additional 1,143,834 shares in 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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.