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

Rezolute (NASDAQ:RZLT - Get Free Report) released its quarterly earnings data on Wednesday. The company reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.33) by $0.11, Zacks reports.

Rezolute Price Performance

RZLT traded down $0.20 during mid-day trading on Friday, reaching $4.61. 357,547 shares of the company traded hands, compared to its average volume of 606,312. The company's fifty day moving average price is $4.86 and its 200-day moving average price is $4.90. Rezolute has a 52-week low of $1.13 and a 52-week high of $6.19.

Analysts Set New Price Targets

Several brokerages have recently commented on RZLT. Guggenheim reiterated a "buy" rating on shares of Rezolute in a research note on Monday, February 10th. Wedbush reaffirmed an "outperform" rating and issued a $112.00 price objective on shares of Rezolute in a report on Monday, November 4th. Craig Hallum raised Rezolute to a "strong-buy" rating in a report on Tuesday, February 4th. HC Wainwright reissued a "buy" rating and set a $14.00 price target on shares of Rezolute in a report on Thursday. Finally, JMP Securities upped their target price on Rezolute from $8.00 to $9.00 and gave the stock a "market outperform" rating in a report on Thursday. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $24.38.

Insider Buying and Selling at Rezolute

In other news, CFO Daron Evans bought 9,000 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price 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 represents a 6.82 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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.