What is Wedbush’s Forecast for Rezolute FY2029 Earnings?

Rezolute, Inc. (NASDAQ:RZLT) – Analysts at Wedbush lifted their FY2029 earnings estimates for shares of Rezolute in a research report issued to clients and investors on Thursday, February 13th. Wedbush analyst Y. Zhong now anticipates that the company will post earnings of $0.46 per share for the year, up from their previous estimate of $0.45. Wedbush has a “Outperform” rating and a $112.00 price target on the stock. The consensus estimate for Rezolute’s current full-year earnings is ($0.99) per share.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11.

Several other research firms also recently weighed in on RZLT. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research report on Thursday, February 13th. Craig Hallum upgraded shares of 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, February 10th. Finally, JMP Securities boosted their target price on Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $24.38.

Rezolute Stock Up 3.5 %

Shares of NASDAQ RZLT opened at $4.77 on Monday. Rezolute has a 52-week low of $1.41 and a 52-week high of $6.19. The business’s 50 day moving average is $4.85 and its two-hundred day moving average is $4.90. The firm has a market cap of $276.37 million, a price-to-earnings ratio of -3.76 and a beta of 1.10.

Institutional Investors Weigh In On Rezolute

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Rezolute during the third quarter worth approximately $65,000. Jacobs Levy Equity Management Inc. purchased a new position in Rezolute during the 3rd quarter worth $239,000. State Street Corp increased its stake in Rezolute by 11.6% in the third quarter. State Street Corp now owns 125,472 shares of the company’s stock valued at $609,000 after purchasing an additional 13,000 shares during the period. XTX Topco Ltd raised its holdings in shares of Rezolute by 67.4% in the third quarter. XTX Topco Ltd now owns 56,375 shares of the company’s stock valued at $273,000 after buying an additional 22,704 shares during the last quarter. Finally, MML Investors Services LLC acquired a new stake in shares of Rezolute during the third quarter worth about $57,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Rezolute

In other news, CFO Daron Evans bought 9,000 shares of Rezolute stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $4.60 per share, with a total value of $41,400.00. Following the acquisition, the chief financial officer now owns 140,900 shares of the company’s stock, valued at approximately $648,140. This trade represents a 6.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 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.