Rezolute’s (RZLT) “Buy” Rating Reiterated at BTIG Research

by · The Cerbat Gem

BTIG Research reaffirmed their buy rating on shares of Rezolute (NASDAQ:RZLT – Free Report) in a research report released on Thursday morning,Benzinga reports. They currently have a $5.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on RZLT. Cantor Fitzgerald cut Rezolute from an “overweight” rating to a “neutral” rating in a research note on Thursday, December 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rezolute in a research note on Wednesday, October 8th. Guggenheim dropped their price target on shares of Rezolute from $15.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, December 12th. Wall Street Zen downgraded shares of Rezolute from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Finally, Craig Hallum lowered shares of Rezolute from a “buy” rating to a “hold” rating and set a $2.00 price objective for the company. in a research note on Thursday, December 11th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.67.

Read Our Latest Research Report on Rezolute

Rezolute Trading Up 11.0%

Shares of NASDAQ RZLT opened at $2.63 on Thursday. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46. The business’s 50 day moving average is $6.44 and its 200-day moving average is $6.89. The firm has a market cap of $243.88 million, a P/E ratio of -2.83 and a beta of 0.39.

Rezolute (NASDAQ:RZLT – Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.09. Analysts forecast that Rezolute will post -0.93 EPS for the current year.

Insider Buying and Selling at Rezolute

In other Rezolute news, CFO Daron Evans acquired 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was bought at an average price of $1.77 per share, with a total value of $70,800.00. Following the completion of the purchase, the chief financial officer owned 415,900 shares of the company’s stock, valued at approximately $736,143. This represents a 10.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nevan C. Elam bought 32,000 shares of Rezolute stock in a transaction that occurred on Monday, December 15th. The shares were acquired at an average price of $1.59 per share, with a total value of $50,880.00. Following the completion of the transaction, the chief executive officer owned 641,119 shares of the company’s stock, valued at $1,019,379.21. This represents a 5.25% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 89,100 shares of company stock valued at $150,232. Insiders own 14.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets purchased a new stake in Rezolute in the second quarter valued at approximately $25,000. Russell Investments Group Ltd. bought a new position in shares of Rezolute in the 3rd quarter worth $61,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Rezolute during the 2nd quarter valued at $30,000. Legal & General Group Plc bought a new stake in shares of Rezolute during the 2nd quarter worth $32,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Rezolute during the 3rd quarter worth $94,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Rezolute Company Profile

(Get Free Report)

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.

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