Rezolute FY2031 Earnings Forecast Reduced by HC Wainwright

Key Points

• HC Wainwright cut Rezolute’s FY2031 EPS forecast to $2.82 from $2.94, while maintaining a Buy rating and a $10 price target.
• Rezolute reported a quarterly loss of $0.18 per share, slightly better than analysts’ expected loss of $0.19.
• Analyst sentiment is broadly positive: 12 analysts rate the stock Buy and two rate it Sell, for a MarketBeat consensus of Moderate Buy and an average target price of $11.22.

Rezolute, Inc. (NASDAQ:RZLT - Free Report) - Investment analysts at HC Wainwright cut their FY2031 earnings per share (EPS) estimates for shares of Rezolute in a research note issued on Friday, November 6th. HC Wainwright analyst D. Tsao now anticipates that the company will post earnings of $2.82 per share for the year, down from their previous estimate of $2.94. HC Wainwright currently has a "Buy" rating and a $10.00 target price on the stock. The consensus estimate for Rezolute's current full-year earnings is ($0.63) per share.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.01.

Several other equities research analysts also recently commented on RZLT. Craig Hallum raised shares of Rezolute from a "hold" rating to a "buy" rating and upped their target price for the company from $4.00 to $7.00 in a research note on Tuesday, September 29th. Citizens Jmp lifted their price target on shares of Rezolute from $11.00 to $15.00 and gave the stock a "market outperform" rating in a research report on Tuesday, October 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Rezolute in a research report on Thursday, October 15th. Citigroup reissued a "market outperform" rating on shares of Rezolute in a report on Thursday, October 15th. Finally, HSBC upgraded shares of Rezolute to a "buy" rating in a research report on Friday, September 25th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $11.22.

Rezolute Price Performance

Rezolute stock opened at $3.88 on Monday. The firm has a market capitalization of $375.31 million, a price-to-earnings ratio of -5.11 and a beta of 0.65. The company's 50 day simple moving average is $4.14 and its 200 day simple moving average is $3.91. Rezolute has a fifty-two week low of $1.07 and a fifty-two week high of $11.46.

Hedge Funds Weigh In On Rezolute

Several institutional investors and hedge funds have recently modified their holdings of RZLT. Jennison Associates LLC bought a new stake in Rezolute in the 1st quarter valued at $10,489,000. Siren L.L.C. bought a new position in Rezolute during the 1st quarter worth about $10,151,000. Dimensional Fund Advisors LP increased its holdings in Rezolute by 273.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 530,229 shares of the company's stock worth $1,617,000 after purchasing an additional 388,346 shares in the last quarter. Knott David M Jr increased its holdings in Rezolute by 8.8% during the 1st quarter. Knott David M Jr now owns 370,000 shares of the company's stock worth $1,128,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Rezolute by 23.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 259,307 shares of the company's stock valued at $1,074,000 after purchasing an additional 49,263 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

About Rezolute

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.

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