Rezolute (NASDAQ:RZLT) Upgraded by Citizens Jmp to “Outperform” Rating

Citizens Jmp upgraded shares of Rezolute (NASDAQ:RZLT) from a market perform rating to an outperform rating in a research report released on Wednesday, Marketbeat reports. They currently have $11.00 target price on the stock.

A number of other equities analysts also recently commented on RZLT. Cantor Fitzgerald reiterated a “neutral” rating on shares of Rezolute in a report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Rezolute in a report on Tuesday. BTIG Research boosted their target price on shares of Rezolute from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Tuesday. Wedbush boosted their target price on shares of Rezolute from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Citigroup upgraded shares of Rezolute from a “market perform” rating to an “outperform” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

Rezolute Price Performance

RZLT stock opened at $4.58 on Wednesday. The business has a 50-day moving average price of $3.31 and a 200 day moving average price of $3.93. The company has a market capitalization of $441.01 million, a P/E ratio of -5.59 and a beta of 0.68. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46.

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

Institutional Investors Weigh In On Rezolute

Large investors have recently modified their holdings of the business. Mangrove Partners IM LLC lifted 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 valued at $27,092,000 after acquiring an additional 584,660 shares during the period. 22NW LP acquired a new position in Rezolute in the third quarter valued at approximately $7,714,000. Caxton Corp lifted its holdings in Rezolute by 23.9% in the third quarter. Caxton Corp now owns 1,986,818 shares of the company’s stock valued at $18,676,000 after acquiring an additional 382,832 shares during the period. Integral Health Asset Management LLC lifted its holdings in Rezolute by 11.1% in the third quarter. Integral Health Asset Management LLC now owns 2,000,000 shares of the company’s stock valued at $18,800,000 after acquiring an additional 200,000 shares during the period. Finally, Knott David M Jr acquired a new position in Rezolute in the third quarter valued at approximately $2,585,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.