Brokers Issue Forecasts for Rezolute, Inc.’s FY2024 Earnings (NASDAQ:RZLT)

Rezolute, Inc. (NASDAQ:RZLTFree Report) – Equities research analysts at HC Wainwright lowered their FY2024 earnings per share estimates for shares of Rezolute in a research note issued to investors on Thursday, May 16th. HC Wainwright analyst D. Tsao now expects that the company will post earnings per share of ($1.23) for the year, down from their prior estimate of ($1.20). HC Wainwright has a “Buy” rating and a $14.00 price objective on the stock. The consensus estimate for Rezolute’s current full-year earnings is ($1.15) per share. HC Wainwright also issued estimates for Rezolute’s Q4 2024 earnings at ($0.34) EPS, Q1 2025 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.33) EPS, Q4 2025 earnings at ($0.42) EPS, FY2025 earnings at ($1.39) EPS, FY2026 earnings at ($1.72) EPS, FY2027 earnings at ($0.57) EPS and FY2028 earnings at $2.28 EPS.

Several other research analysts have also weighed in on the company. Maxim Group started coverage on Rezolute in a research report on Tuesday, April 9th. They issued a “buy” rating and a $8.00 target price on the stock. Jonestrading assumed coverage on shares of Rezolute in a research report on Thursday, April 18th. They set a “buy” rating and a $10.00 price target for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $7.00 price objective on shares of Rezolute in a research report on Thursday, April 18th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $8.80.

View Our Latest Report on RZLT

Rezolute Stock Performance

RZLT opened at $2.81 on Monday. Rezolute has a 1 year low of $0.72 and a 1 year high of $3.69. The company’s 50 day simple moving average is $2.59 and its 200 day simple moving average is $1.61. The stock has a market capitalization of $112.77 million, a PE ratio of -2.46 and a beta of 1.29.

Institutional Trading of Rezolute

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in Rezolute in the first quarter valued at about $37,000. Acadian Asset Management LLC bought a new stake in Rezolute during the 1st quarter worth about $229,000. Rosalind Advisors Inc. bought a new stake in shares of Rezolute during the first quarter valued at approximately $510,000. Vanguard Group Inc. lifted its position in Rezolute by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock valued at $3,961,000 after purchasing an additional 145,700 shares during the period. Finally, Affinity Asset Advisors LLC bought a new stake in shares of Rezolute during the first quarter worth approximately $4,080,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, Director Young-Jin Kim purchased 36,503 shares of Rezolute stock in a transaction that occurred on Thursday, March 7th. The stock was acquired at an average price of $1.91 per share, for a total transaction of $69,720.73. Following the transaction, the director now owns 115,450 shares in the company, valued at $220,509.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Daron Evans acquired 20,000 shares of the stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $1.69 per share, with a total value of $33,800.00. Following the acquisition, the chief financial officer now owns 20,000 shares in the company, valued at approximately $33,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Young-Jin Kim bought 36,503 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was purchased at an average price of $1.91 per share, for a total transaction of $69,720.73. Following the acquisition, the director now directly owns 115,450 shares in the company, valued at $220,509.50. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 130,503 shares of company stock valued at $242,961. 20.80% of the stock is owned by corporate insiders.

Rezolute Company Profile

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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.

See Also

Earnings History and Estimates for Rezolute (NASDAQ:RZLT)

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