Rezolute (NASDAQ:RZLT) Issues Earnings Results, Beats Expectations By $0.01 EPS

Rezolute (NASDAQ:RZLT) announced its quarterly earnings results on Thursday. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01, FiscalAI reports.

Rezolute Price Performance

RZLT stock traded up $0.24 during midday trading on Friday, hitting $3.88. The stock had a trading volume of 1,520,129 shares, compared to its average volume of 1,445,984. The business has a 50-day moving average of $4.14 and a two-hundred day moving average of $3.91. Rezolute has a 52-week low of $1.07 and a 52-week high of $11.46.

Wall Street Analyst Weigh In

Several research analysts have commented on RZLT shares. HC Wainwright upped their price objective on shares of Rezolute from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, September 25th. Cantor Fitzgerald raised shares of Rezolute from a “neutral” rating to an “overweight” rating in a research note on Monday, October 5th. Zacks Research cut shares of Rezolute from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. HSBC raised shares of Rezolute to a “buy” rating in a research note on Friday, September 25th. Finally, Craig Hallum upgraded shares of Rezolute from a “hold” rating to a “buy” rating and raised their price objective for the stock from $4.00 to $7.00 in a report on Tuesday, September 29th. Twelve research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.22.

Rezolute Company Profile

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for metabolic diseases involving abnormal insulin activity. The company’s lead product candidate is RZ358, also known as ersodetug, an investigational monoclonal antibody designed to reduce the effects of excessive insulin by binding to an allosteric site on the insulin receptor.

RZ358 is being developed primarily for the treatment of congenital hyperinsulinism, a rare disorder in which the pancreas releases too much insulin, causing potentially severe and recurrent hypoglycemia.