Wedbush Estimates Rezolute’s FY2029 Earnings (NASDAQ:RZLT)

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

Rezolute (NASDAQ:RZLT) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.11.

A number of other research firms have also recently weighed in on RZLT. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Rezolute in a report on Thursday, February 13th. Craig Hallum raised Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. JMP Securities raised their target price on shares of Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Finally, Guggenheim reissued a “buy” rating on shares of Rezolute in a report on Monday, February 10th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Rezolute has an average rating of “Buy” and an average target price of $24.38.

Rezolute Trading Up 3.5 %

Shares of RZLT opened at $4.77 on Monday. Rezolute has a twelve month low of $1.41 and a twelve month high of $6.19. The firm has a market capitalization of $276.37 million, a P/E ratio of -3.76 and a beta of 1.10. The firm’s 50-day moving average is $4.85 and its two-hundred day moving average is $4.90.

Hedge Funds Weigh In On Rezolute

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new position in Rezolute in the third quarter worth about $42,000. Alpine Global Management LLC bought a new stake in Rezolute in the 4th quarter valued at about $54,000. MML Investors Services LLC acquired a new position in shares of Rezolute during the third quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Rezolute during the 3rd quarter worth $65,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Rezolute by 65.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock worth $112,000 after purchasing an additional 9,000 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rezolute news, CFO Daron Evans acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was bought at an average price of $4.29 per share, with a total value of $42,900.00. Following the completion of the transaction, the chief financial officer now directly owns 150,900 shares of the company’s stock, valued at approximately $647,361. The trade was a 7.10 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 18.39% of the stock is owned by corporate insiders.

Rezolute Company Profile

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.