Rezolute (NASDAQ:RZLT) Research Coverage Started at Lake Street Capital

by · The Markets Daily

Lake Street Capital initiated coverage on shares of Rezolute (NASDAQ:RZLT – Free Report) in a report published on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $9.00 price objective on the stock.

A number of other research analysts also recently issued reports on the company. Guggenheim lifted their price target on Rezolute from $6.00 to $11.00 and gave the company a “buy” rating in a report on Monday, June 15th. Citizens Jmp raised Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 price target for the company in a research report on Wednesday, June 3rd. Zacks Research upgraded Rezolute from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Rezolute in a research report on Wednesday, June 3rd. Finally, 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, June 3rd. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Rezolute currently has a consensus rating of “Moderate Buy” and an average target price of $10.44.

Check Out Our Latest Report on Rezolute

Rezolute Stock Performance

NASDAQ RZLT opened at $4.01 on Wednesday. The firm’s 50 day moving average price is $4.49 and its 200-day moving average price is $4.06. Rezolute has a 52-week low of $1.07 and a 52-week high of $11.46. The company has a market cap of $387.85 million, a PE ratio of -5.28 and a beta of 0.53.

Rezolute (NASDAQ:RZLT – Get Free Report) last issued its quarterly earnings data on Thursday, September 24th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). On average, analysts forecast that Rezolute will post -0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rezolute

Large investors have recently made changes to their positions in the business. Jennison Associates LLC acquired a new position in Rezolute during the 1st quarter valued at about $10,489,000. Siren L.L.C. purchased a new stake in Rezolute in the first quarter valued at about $10,151,000. Dimensional Fund Advisors LP boosted its holdings in Rezolute by 273.7% in the first quarter. Dimensional Fund Advisors LP now owns 530,229 shares of the company’s stock worth $1,617,000 after acquiring an additional 388,346 shares in the last quarter. Knott David M Jr boosted its holdings in Rezolute by 8.8% in the first quarter. Knott David M Jr now owns 370,000 shares of the company’s stock worth $1,128,000 after acquiring an additional 30,000 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Rezolute in the second quarter worth about $1,104,000. 82.97% of the stock is owned by institutional investors and hedge funds.

About Rezolute

(Get Free Report)

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for rare and metabolic diseases. The company’s research is centered on therapies that address abnormal insulin activity and other conditions involving disrupted glucose regulation.

Rezolute’s leading product candidate is RZ358, an investigational monoclonal antibody designed to reduce the effects of excessive insulin. The therapy is being developed primarily for congenital hyperinsulinism, a rare disorder in which the pancreas produces too much insulin and causes potentially severe, recurrent hypoglycemia.

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