Rezolute (NASDAQ:RZLT) Announces Earnings Results

Rezolute (NASDAQ:RZLT) released its earnings results on Thursday. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05), Zacks reports.

Rezolute Price Performance

RZLT stock traded down $0.06 during mid-day trading on Thursday, reaching $3.94. 3,867,500 shares of the company’s stock were exchanged, compared to its average volume of 2,239,919. The company has a market cap of $379.39 million, a price-to-earnings ratio of -4.80 and a beta of 0.60. The stock’s 50 day moving average is $4.60 and its 200 day moving average is $4.01. Rezolute has a 12-month low of $1.07 and a 12-month high of $11.46.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RZLT shares. BTIG Research lifted their target price on Rezolute from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Maxim Group boosted their price objective on shares of Rezolute from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Wall Street Zen downgraded Rezolute from a “hold” rating to a “sell” rating in a research report on Tuesday, June 30th. Zacks Research raised shares of Rezolute from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Finally, Citizens Jmp upgraded Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 price target for the company in a research note on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

Rezolute Company Profile

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for rare and metabolic diseases. The company’s research is centered on therapies that address abnormal insulin activity and other conditions involving disrupted glucose regulation.

Rezolute’s leading product candidate is RZ358, an investigational monoclonal antibody designed to reduce the effects of excessive insulin. The therapy is being developed primarily for congenital hyperinsulinism, a rare disorder in which the pancreas produces too much insulin and causes potentially severe, recurrent hypoglycemia.