Rezolute (NASDAQ:RZLT) Issues Quarterly Earnings Results

Rezolute (NASDAQ:RZLT) released its earnings results on Wednesday. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.11, Zacks reports.

Rezolute Stock Performance

NASDAQ:RZLT opened at $4.81 on Friday. The company has a market cap of $278.69 million, a PE ratio of -3.79 and a beta of 1.10. Rezolute has a 52-week low of $1.06 and a 52-week high of $6.19. The stock has a 50-day simple moving average of $4.88 and a 200 day simple moving average of $4.90.

Insider Buying and Selling

In related news, CFO Daron Evans purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was purchased at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the chief financial officer now directly owns 150,900 shares in the company, valued at $647,361. This trade represents a 7.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JMP Securities increased their target price on Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a research note on Thursday. Craig Hallum raised Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Guggenheim reissued a “buy” rating on shares of Rezolute in a research note on Monday. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Rezolute in a report on Thursday. Finally, Wedbush restated an “outperform” rating and issued a $112.00 price target on shares of Rezolute in a report on Monday, November 4th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $24.38.

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.