Rezolute (NASDAQ:RZLT) Releases Earnings Results, Misses Estimates By $0.05 EPS

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

Rezolute Price Performance

Shares of NASDAQ RZLT opened at $3.94 on Friday. The stock has a fifty day moving average price of $4.59 and a 200 day moving average price of $4.02. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46. The company has a market cap of $379.38 million, a PE ratio of -4.80 and a beta of 0.60.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RZLT. Citizens Jmp upgraded shares of 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. Wall Street Zen lowered shares of Rezolute from a “hold” rating to a “sell” rating in a research note on Tuesday, June 30th. Maxim Group upped their target price on shares of Rezolute from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Cantor Fitzgerald reiterated a “neutral” rating on shares of Rezolute in a research note on Wednesday, June 3rd. Finally, HSBC raised Rezolute to a “buy” rating in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.