Rezolute (NASDAQ:RZLT) Posts Earnings Results, Beats Expectations By $0.11 EPS

Rezolute (NASDAQ:RZLT) released its quarterly earnings data on Wednesday. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11, Zacks reports.

Rezolute Price Performance

Rezolute stock opened at $4.81 on Friday. The stock’s fifty day moving average price is $4.88 and its two-hundred day moving average price is $4.90. Rezolute has a one year low of $1.06 and a one year high of $6.19. The firm has a market cap of $278.69 million, a PE ratio of -3.79 and a beta of 1.10.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RZLT. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research report on Thursday. Guggenheim reissued a “buy” rating on shares of Rezolute in a report on Monday. JMP Securities lifted their price target on Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a report on Thursday. Craig Hallum raised Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Wedbush reissued an “outperform” rating and set a $112.00 price target on shares of Rezolute in a report on Monday, November 4th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $24.38.

Insiders Place Their Bets

In other Rezolute news, CFO Daron Evans purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were bought at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the purchase, the chief financial officer now owns 150,900 shares in the company, valued at approximately $647,361. This trade represents a 7.10 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 18.39% of the company’s stock.

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.