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

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

Rezolute Price Performance

RZLT traded down $0.06 during trading hours on Thursday, hitting $3.94. 3,867,500 shares of the stock were exchanged, compared to its average volume of 2,239,919. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46. The stock has a 50-day simple moving average of $4.60 and a 200-day simple moving average of $4.01. The stock has a market cap of $379.39 million, a price-to-earnings ratio of -4.80 and a beta of 0.60.

Analyst Upgrades and Downgrades

RZLT has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a report on Friday, July 17th. HC Wainwright restated a “buy” rating on shares of Rezolute in a research report on Thursday, July 30th. Citizens Jmp upgraded shares of Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 price objective on the stock in a research report on Wednesday, June 3rd. Wall Street Zen cut shares of Rezolute from a “hold” rating to a “sell” rating in a research note on Tuesday, June 30th. Finally, Citigroup upgraded shares of Rezolute from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.