Rezolute (NASDAQ:RZLT) Announces Quarterly Earnings Results

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

Rezolute Stock Performance

Shares of Rezolute stock traded up $0.24 during trading hours on Friday, reaching $3.88. 1,520,129 shares of the company were exchanged, compared to its average volume of 1,445,984. Rezolute has a 1 year low of $1.07 and a 1 year high of $11.46. The stock’s fifty day moving average is $4.14 and its 200 day moving average is $3.91. The firm has a market cap of $375.31 million, a PE ratio of -5.11 and a beta of 0.65.

Wall Street Analysts Forecast Growth

RZLT has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rezolute in a research note on Thursday, October 15th. Zacks Research cut shares of Rezolute from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. Citizens Jmp lifted their target price on shares of Rezolute from $11.00 to $15.00 and gave the company a “market outperform” rating in a report on Tuesday, October 6th. HC Wainwright lifted their target price on shares of Rezolute from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, September 25th. Finally, HSBC raised Rezolute to a “buy” rating in a research report on Friday, September 25th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Rezolute currently has a consensus rating of “Moderate Buy” and a consensus 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.