Rezolute (NASDAQ:RZLT) Announces Quarterly Earnings Results

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

Rezolute Stock Performance

Shares of NASDAQ:RZLT traded down $0.06 during trading on Thursday, reaching $3.94. 3,868,101 shares of the stock traded hands, compared to its average volume of 2,239,989. The stock has a 50-day moving average of $4.60 and a two-hundred day moving average of $4.01. Rezolute has a 52-week low of $1.07 and a 52-week high of $11.46. The stock has a market cap of $379.39 million, a P/E ratio of -4.80 and a beta of 0.60.

Analyst Ratings Changes

Several brokerages have recently issued reports on RZLT. Guggenheim raised their price target on Rezolute from $6.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Citigroup raised shares of Rezolute from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 3rd. Maxim Group increased their price objective on Rezolute from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a report on Friday, July 17th. Finally, Wedbush increased their price objective on Rezolute from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.