Wall Street Zen Upgrades Rezolute (NASDAQ:RZLT) to Hold

Rezolute (NASDAQ:RZLT) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research analysts also recently weighed in on the company. Wedbush lifted their price target on Rezolute from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup upgraded Rezolute from a “market perform” rating to an “outperform” rating in a report on Wednesday. Citizens Jmp upgraded Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 price target on the stock in a report on Wednesday. BTIG Research lifted their price target on Rezolute from $5.00 to $6.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Maxim Group lifted their price target on Rezolute from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.75.

Rezolute Stock Down 5.8%

Shares of Rezolute stock opened at $4.25 on Friday. The stock’s fifty day moving average is $3.37 and its 200-day moving average is $3.90. The firm has a market capitalization of $409.23 million, a PE ratio of -5.18 and a beta of 0.68. Rezolute has a 12-month low of $1.07 and a 12-month high of $11.46.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RZLT. RA Capital Management L.P. purchased a new position in shares of Rezolute during the fourth quarter valued at $21,665,000. Opaleye Management Inc. grew its stake in Rezolute by 595.9% in the fourth quarter. Opaleye Management Inc. now owns 6,287,156 shares of the company’s stock valued at $14,838,000 after purchasing an additional 5,383,714 shares in the last quarter. Jennison Associates LLC purchased a new position in Rezolute in the first quarter valued at about $10,489,000. Siren L.L.C. purchased a new position in Rezolute in the first quarter valued at about $10,151,000. Finally, Balyasny Asset Management L.P. grew its stake in Rezolute by 147.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 4,506,861 shares of the company’s stock valued at $10,636,000 after purchasing an additional 2,684,133 shares in the last quarter. 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.