Rezolute, Inc. (NASDAQ:RZLT) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been given an average rating of “Buy” by the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $24.38.

A number of brokerages recently commented on RZLT. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research note on Thursday, February 13th. JMP Securities boosted their price target on Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Craig Hallum raised Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Guggenheim reiterated a “buy” rating on shares of Rezolute in a report on Monday, February 10th.

Rezolute Trading Down 7.7 %

RZLT opened at $2.53 on Monday. The company has a market capitalization of $153.15 million, a price-to-earnings ratio of -2.07 and a beta of 0.97. Rezolute has a 12-month low of $2.31 and a 12-month high of $6.19. The business’s fifty day simple moving average is $4.05 and its 200-day simple moving average is $4.67.

Rezolute (NASDAQ:RZLT) last issued its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.11. On average, equities research analysts predict that Rezolute will post -0.93 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Nevan C. Elam purchased 12,302 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was acquired at an average price of $2.85 per share, with a total value of $35,060.70. Following the completion of the acquisition, the chief executive officer now owns 224,119 shares in the company, valued at approximately $638,739.15. This represents a 5.81 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Daron Evans acquired 10,000 shares of the stock in a transaction dated Wednesday, March 26th. The shares were bought at an average price of $2.89 per share, with a total value of $28,900.00. Following the completion of the purchase, the chief financial officer now directly owns 237,900 shares of the company’s stock, valued at approximately $687,531. This trade represents a 4.39 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 39,060 shares of company stock valued at $130,694. 18.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rezolute

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in shares of Rezolute in the third quarter worth about $42,000. Alpine Global Management LLC purchased a new stake in shares of Rezolute in the 4th quarter valued at $54,000. MML Investors Services LLC acquired a new stake in shares of Rezolute in the third quarter worth $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Rezolute during the third quarter worth $65,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Rezolute by 65.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock valued at $112,000 after purchasing an additional 9,000 shares during the period. 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.