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

Rezolute (NASDAQ:RZLT) released its quarterly earnings data 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 Up 1.7 %

Shares of NASDAQ RZLT traded up $0.08 during midday trading on Wednesday, hitting $4.86. 332,859 shares of the company’s stock were exchanged, compared to its average volume of 557,039. The firm has a market capitalization of $281.59 million, a PE 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. The company’s 50 day moving average price is $4.89 and its 200 day moving average price is $4.90.

Insider Buying and Selling at Rezolute

In other news, CFO Daron Evans acquired 10,000 shares of Rezolute stock in a transaction dated Wednesday, December 18th. The stock was bought at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the acquisition, the chief financial officer now directly owns 150,900 shares in the company, valued at approximately $647,361. The trade was a 7.10 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 18.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RZLT. Wedbush restated an “outperform” rating and set a $112.00 target price on shares of Rezolute in a report on Monday, November 4th. Guggenheim restated a “buy” rating on shares of Rezolute in a report on Monday. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Rezolute in a report on Wednesday, February 5th. Finally, Craig Hallum upgraded Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $24.13.

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.