Rezolute (NASDAQ:RZLT) Issues Quarterly Earnings Results

Rezolute (NASDAQ:RZLT) issued its earnings results on Thursday. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14), Zacks reports.

Rezolute Stock Up 5.4 %

Shares of RZLT stock traded up $0.26 during trading hours on Friday, hitting $5.08. 1,514,825 shares of the company’s stock traded hands, compared to its average volume of 440,479. Rezolute has a 12 month low of $0.72 and a 12 month high of $6.10. The stock has a market cap of $203.89 million, a PE ratio of -4.46 and a beta of 1.18. The stock’s 50 day simple moving average is $4.62 and its 200 day simple moving average is $3.72.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RZLT shares. Guggenheim started coverage on Rezolute in a research report on Tuesday, August 27th. They set a “buy” rating and a $11.00 price objective for the company. JMP Securities restated a “market outperform” rating and issued a $7.00 price target on shares of Rezolute in a research note on Friday. BTIG Research upped their price objective on shares of Rezolute from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Craig Hallum assumed coverage on shares of Rezolute in a research note on Tuesday, June 4th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, Maxim Group boosted their target price on shares of Rezolute from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $11.57.

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.