Rezolute, Inc. (NASDAQ:RZLT) Given Consensus Rating of “Buy” by Brokerages

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been given an average recommendation of “Buy” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.67.

Several research firms have issued reports on RZLT. Maxim Group began coverage on Rezolute in a research note on Tuesday, April 9th. They set a “buy” rating and a $8.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Rezolute in a research note on Wednesday, May 22nd. Jonestrading began coverage on Rezolute in a research note on Thursday, April 18th. They set a “buy” rating and a $10.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and set a $7.00 price objective on shares of Rezolute in a research note on Thursday, April 18th. Finally, Craig Hallum assumed coverage on Rezolute in a research note on Tuesday, June 4th. They issued a “buy” rating and a $14.00 target price for the company.

Insiders Place Their Bets

In other news, CFO Daron Evans acquired 20,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $1.69 per share, with a total value of $33,800.00. Following the acquisition, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $33,800. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders purchased 38,509 shares of company stock worth $75,794 over the last three months. Insiders own 20.80% of the company’s stock.

Institutional Investors Weigh In On Rezolute

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of Rezolute in the first quarter worth about $37,000. Acadian Asset Management LLC acquired a new stake in shares of Rezolute during the 1st quarter valued at $229,000. Vanguard Group Inc. boosted its holdings in shares of Rezolute by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock valued at $3,961,000 after acquiring an additional 145,700 shares in the last quarter. Rosalind Advisors Inc. bought a new stake in Rezolute during the 1st quarter worth $510,000. Finally, Affinity Asset Advisors LLC acquired a new stake in Rezolute during the 1st quarter worth approximately $4,080,000. Institutional investors own 82.97% of the company’s stock.

Rezolute Stock Down 4.9 %

Shares of Rezolute stock opened at $5.44 on Tuesday. The stock has a market capitalization of $218.31 million, a P/E ratio of -4.77 and a beta of 1.30. The stock has a 50 day moving average price of $3.24 and a two-hundred day moving average price of $1.97. Rezolute has a 12-month low of $0.72 and a 12-month high of $6.10.

Rezolute (NASDAQ:RZLT) last issued its earnings results on Wednesday, May 15th. The company reported ($0.34) EPS for the quarter, hitting the consensus estimate of ($0.34). Sell-side analysts anticipate that Rezolute will post -1.15 earnings per share for the current year.

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.