HC Wainwright Has Weak Estimate for Rezolute FY2030 Earnings

Rezolute, Inc. (NASDAQ:RZLT) – Analysts at HC Wainwright lowered their FY2030 EPS estimates for Rezolute in a note issued to investors on Friday, November 7th. HC Wainwright analyst D. Tsao now anticipates that the company will earn $0.49 per share for the year, down from their prior estimate of $0.61. HC Wainwright currently has a “Buy” rating and a $14.00 price target on the stock. The consensus estimate for Rezolute’s current full-year earnings is ($0.93) per share.

Rezolute (NASDAQ:RZLT) last issued its earnings results on Thursday, November 6th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09.

Other research analysts have also issued reports about the company. Wedbush reiterated an “outperform” rating and issued a $12.00 price objective on shares of Rezolute in a research report on Thursday, September 18th. Citigroup reaffirmed an “outperform” rating on shares of Rezolute in a research note on Wednesday, October 29th. Citizens Jmp raised their price objective on Rezolute from $9.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 29th. JMP Securities set a $17.00 price objective on shares of Rezolute in a report on Wednesday, October 29th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $17.00 target price on shares of Rezolute in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Rezolute Price Performance

Shares of NASDAQ RZLT opened at $10.76 on Monday. The company has a market capitalization of $977.33 million, a P/E ratio of -11.57 and a beta of 0.07. The company has a 50 day simple moving average of $8.66 and a 200-day simple moving average of $6.24. Rezolute has a 1 year low of $2.21 and a 1 year high of $10.94.

Hedge Funds Weigh In On Rezolute

Several hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC boosted its position in Rezolute by 335.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 210,581 shares of the company’s stock valued at $611,000 after buying an additional 162,216 shares during the period. Acadian Asset Management LLC raised its stake in shares of Rezolute by 9.0% in the first quarter. Acadian Asset Management LLC now owns 605,042 shares of the company’s stock valued at $1,752,000 after acquiring an additional 50,163 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its holdings in Rezolute by 56.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 118,900 shares of the company’s stock valued at $345,000 after purchasing an additional 42,900 shares during the period. XTX Topco Ltd acquired a new position in Rezolute during the 1st quarter worth $95,000. Finally, Goldman Sachs Group Inc. acquired a new position in Rezolute during the 1st quarter worth $685,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.