Rezolute (NASDAQ:RZLT) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Rezolute (NASDAQ:RZLT) issued its earnings results on Thursday. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.01, FiscalAI reports.

Rezolute Stock Up 6.6%

Shares of RZLT stock traded up $0.24 during mid-day trading on Friday, reaching $3.88. 1,520,129 shares of the company’s stock traded hands, compared to its average volume of 1,445,984. The company’s 50-day moving average price is $4.14 and its 200-day moving average price is $3.91. The company has a market cap of $375.31 million, a P/E 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.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RZLT. Citizens Jmp raised their target price on Rezolute from $11.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 6th. Citigroup reaffirmed a “market outperform” rating on shares of Rezolute in a research report on Thursday, October 15th. HSBC raised shares of Rezolute to a “buy” rating in a research note on Friday, September 25th. Craig Hallum upgraded shares of Rezolute from a “hold” rating to a “buy” rating and boosted their price target for the company from $4.00 to $7.00 in a research report on Tuesday, September 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rezolute in a research note on Thursday, October 15th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.22.

Rezolute Company Profile

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.