Rezolute, Inc. (NASDAQ:RZLT) Stock Has Consensus Target Price of $11.22

Shares of Rezolute, Inc. (NASDAQ:RZLT) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $11.22.

A number of research firms recently issued reports on RZLT. HSBC upgraded shares of Rezolute to a “buy” rating in a report on Friday, September 25th. Lake Street Capital increased their price objective on Rezolute from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. Zacks Research downgraded Rezolute from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. Cantor Fitzgerald upgraded shares of Rezolute from a “neutral” rating to an “overweight” rating in a research report on Monday, October 5th. Finally, Craig Hallum upgraded Rezolute from a “hold” rating to a “buy” rating and upped their price target for the stock from $4.00 to $7.00 in a research report on Tuesday, September 29th.

Institutional Investors Weigh In On Rezolute

A number of institutional investors and hedge funds have recently modified their holdings of RZLT. Auxano Advisors LLC purchased a new position in Rezolute in the 2nd quarter valued at approximately $52,000. Sequoia Financial Advisors LLC purchased a new position in shares of Rezolute in the second quarter worth about $75,000. WINTON GROUP Ltd purchased a new stake in shares of Rezolute during the second quarter worth approximately $88,000. Y Intercept Hong Kong Ltd acquired a new position in Rezolute during the first quarter worth $90,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Rezolute by 189.4% during the first quarter. Hsbc Holdings PLC now owns 36,939 shares of the company’s stock worth $113,000 after purchasing an additional 24,177 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Rezolute Trading Up 6.6%

RZLT opened at $3.88 on Monday. The company’s 50 day moving average is $4.14 and its 200 day moving average is $3.91. The company has a market cap of $375.31 million, a price-to-earnings ratio of -5.11 and a beta of 0.65. Rezolute has a 12-month low of $1.07 and a 12-month high of $11.46.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.01. As a group, analysts predict that Rezolute will post -0.63 EPS for the current fiscal year.

About Rezolute

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for metabolic diseases involving abnormal insulin activity. The company’s lead product candidate is RZ358, also known as ersodetug, an investigational monoclonal antibody designed to reduce the effects of excessive insulin by binding to an allosteric site on the insulin receptor.

RZ358 is being developed primarily for the treatment of congenital hyperinsulinism, a rare disorder in which the pancreas releases too much insulin, causing potentially severe and recurrent hypoglycemia.