Rezolute (NASDAQ:RZLT) Price Target Raised to $6.00 at Wedbush

Rezolute (NASDAQ:RZLT) had its price objective hoisted by Wedbush from $5.00 to $6.00 in a research note released on Wednesday morning, MarketBeat.com reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also recently commented on RZLT. Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a report on Tuesday, April 21st. Cantor Fitzgerald restated a “neutral” rating on shares of Rezolute in a report on Wednesday. Maxim Group raised their target price on Rezolute from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen upgraded Rezolute from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Citigroup upgraded Rezolute from a “market perform” rating to an “outperform” rating in a report on Wednesday. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Rezolute presently has a consensus rating of “Moderate Buy” and an average target price of $8.75.

Rezolute Price Performance

Shares of Rezolute stock opened at $4.58 on Wednesday. The business has a 50-day moving average of $3.31 and a 200 day moving average of $3.93. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46. The stock has a market capitalization of $441.01 million, a price-to-earnings ratio of -5.59 and a beta of 0.68.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Tuesday, May 12th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Equities research analysts anticipate that Rezolute will post -0.72 earnings per share for the current year.

Institutional Investors Weigh In On Rezolute

A number of hedge funds have recently bought and sold shares of the stock. RA Capital Management L.P. acquired a new stake in shares of Rezolute during the 4th quarter worth about $21,665,000. Opaleye Management Inc. raised its position in shares of Rezolute by 595.9% during the 4th quarter. Opaleye Management Inc. now owns 6,287,156 shares of the company’s stock worth $14,838,000 after acquiring an additional 5,383,714 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Rezolute during the 1st quarter worth about $10,489,000. Siren L.L.C. acquired a new stake in shares of Rezolute during the 1st quarter worth about $10,151,000. Finally, Balyasny Asset Management L.P. raised its position in shares of Rezolute by 147.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 4,506,861 shares of the company’s stock worth $10,636,000 after acquiring an additional 2,684,133 shares in the last quarter. Institutional investors and hedge funds 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.