What is Wedbush’s Estimate for Rezolute FY2029 Earnings?

Rezolute, Inc. (NASDAQ:RZLT) – Research analysts at Wedbush upped their FY2029 earnings per share (EPS) estimates for shares of Rezolute in a research note issued on Thursday, February 13th. Wedbush analyst Y. Zhong now forecasts that the company will earn $0.46 per share for the year, up from their prior forecast of $0.45. Wedbush currently has a “Outperform” rating and a $112.00 target price 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 results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.11.

Several other equities analysts have also issued reports on the company. Guggenheim restated a “buy” rating on shares of Rezolute in a research report on Monday, February 10th. JMP Securities raised their price target on Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Rezolute in a research report on Thursday. Finally, Craig Hallum upgraded Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $24.38.

Rezolute Trading Down 4.2 %

Shares of Rezolute stock opened at $4.61 on Monday. The firm has a market capitalization of $267.10 million, a PE ratio of -3.63 and a beta of 1.10. The business’s 50-day moving average price is $4.86 and its 200-day moving average price is $4.90. Rezolute has a 12 month low of $1.13 and a 12 month high of $6.19.

Insider Buying and Selling

In related news, CFO Daron Evans purchased 9,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $4.60 per share, with a total value of $41,400.00. Following the completion of the acquisition, the chief financial officer now owns 140,900 shares of the company’s stock, valued at approximately $648,140. This trade represents a 6.82 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 18.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rezolute

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Rezolute by 39.0% in the third quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock worth $2,385,000 after buying an additional 137,905 shares in the last quarter. MML Investors Services LLC purchased a new stake in shares of Rezolute in the third quarter worth about $57,000. JPMorgan Chase & Co. purchased a new stake in shares of Rezolute in the third quarter worth about $42,000. State Street Corp lifted its position in shares of Rezolute by 11.6% in the third quarter. State Street Corp now owns 125,472 shares of the company’s stock worth $609,000 after buying an additional 13,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Rezolute in the third quarter worth about $239,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.