Rezolute (NASDAQ:RZLT) Raised to Outperform at Citizens Jmp

Rezolute (NASDAQ:RZLT) was upgraded by equities researchers at Citizens Jmp from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage presently has a $11.00 price target on the stock. Citizens Jmp’s target price suggests a potential upside of 175.00% from the company’s current price.

A number of other research firms have also issued reports on RZLT. Wall Street Zen upgraded Rezolute from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. BTIG Research increased their target price on Rezolute from $5.00 to $6.00 and gave the company a “buy” rating in a report on Tuesday. Wedbush upped their price target on shares of Rezolute from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday. Maxim Group set a $14.00 price target on shares of Rezolute in a research note on Tuesday. Finally, Citigroup raised shares of Rezolute from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Eight equities 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.75.

Rezolute Stock Up 10.8%

RZLT opened at $4.00 on Wednesday. The stock has a fifty day moving average of $3.24 and a 200-day moving average of $4.01. The firm has a market capitalization of $385.16 million, a P/E ratio of -4.88 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 released its earnings results on Tuesday, May 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. On average, analysts expect that Rezolute will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rezolute

Several hedge funds have recently bought and sold shares of RZLT. BNP Paribas Financial Markets acquired a new position in Rezolute during the second quarter worth $25,000. ExodusPoint Capital Management LP acquired a new position in Rezolute during the fourth quarter worth $25,000. HB Wealth Management LLC acquired a new position in Rezolute during the fourth quarter worth $26,000. Fifth Third Wealth Advisors LLC acquired a new position in Rezolute during the fourth quarter worth $29,000. Finally, Hsbc Holdings PLC acquired a new position in Rezolute during the fourth quarter worth $29,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Rezolute Company Profile

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.