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

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

Rezolute Stock Performance

Shares of NASDAQ RZLT traded up $0.24 during trading on Friday, hitting $3.88. The company had a trading volume of 1,520,129 shares, compared to its average volume of 1,445,984. The stock has a 50 day simple moving average of $4.14 and a 200 day simple moving average of $3.91. The firm has a market capitalization 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.

Analyst Ratings Changes

Several equities analysts recently issued reports on RZLT shares. Lake Street Capital raised their price target on Rezolute from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Citigroup reaffirmed a “market outperform” rating on shares of Rezolute in a research report on Thursday, October 15th. Craig Hallum raised Rezolute from a “hold” rating to a “buy” rating and lifted their target price for the stock from $4.00 to $7.00 in a report on Tuesday, September 29th. HC Wainwright lifted their price objective on Rezolute from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, September 25th. Finally, Cantor Fitzgerald upgraded Rezolute from a “neutral” rating to an “overweight” rating in a research note on Monday, October 5th. Twelve analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.22.

About Rezolute

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.