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

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

Rezolute Stock Performance

Shares of NASDAQ:RZLT traded up $0.08 during trading on Wednesday, hitting $4.86. 332,859 shares of the stock were exchanged, compared to its average volume of 557,777. Rezolute has a 1-year low of $1.05 and a 1-year high of $6.19. The company has a market capitalization of $281.59 million, a price-to-earnings ratio of -3.83 and a beta of 1.10. The company’s fifty day simple moving average is $4.89 and its 200-day simple moving average is $4.90.

Insider Transactions at Rezolute

In related news, CFO Daron Evans purchased 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $4.60 per share, with a total value of $41,400.00. Following the purchase, the chief financial officer now directly owns 140,900 shares in the company, valued at $648,140. This represents a 6.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 18.39% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RZLT shares. Craig Hallum raised Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Guggenheim reissued a “buy” rating on shares of Rezolute in a research note on Monday. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research note on Wednesday, February 5th. Finally, Wedbush reissued an “outperform” rating and issued a $112.00 price objective on shares of Rezolute in a research note on Monday, November 4th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $24.13.

Rezolute Company Profile

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.