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

Rezolute (NASDAQ:RZLT) announced its earnings results on Wednesday. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.11, Zacks reports.

Rezolute Stock Performance

Shares of RZLT traded up $0.08 during mid-day trading on Wednesday, reaching $4.86. 332,859 shares of the company’s stock traded hands, compared to its average volume of 557,777. The business’s 50-day moving average price is $4.89 and its 200-day moving average price is $4.90. The stock has a market capitalization of $281.59 million, a P/E ratio of -3.83 and a beta of 1.10. Rezolute has a 12 month low of $1.05 and a 12 month high of $6.19.

Wall Street Analyst Weigh In

A number of research firms recently commented on RZLT. Wedbush reiterated an “outperform” rating and issued a $112.00 price target on shares of Rezolute in a research note on Monday, November 4th. Craig Hallum upgraded Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Guggenheim reiterated a “buy” rating on shares of Rezolute in a research note on Monday. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research note on Wednesday, February 5th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $24.13.

Insider Activity at Rezolute

In other Rezolute news, CFO Daron Evans purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the transaction, the chief financial officer now owns 150,900 shares in the company, valued at $647,361. This 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 the SEC website. Company 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.