HC Wainwright Analysts Boost Earnings Estimates for Rezolute, Inc. (NASDAQ:RZLT)

Rezolute, Inc. (NASDAQ:RZLT – Get Rating) – Equities researchers at HC Wainwright lifted their FY2023 earnings estimates for Rezolute in a research note issued to investors on Monday, May 15th. HC Wainwright analyst D. Tsao now anticipates that the company will earn ($1.10) per share for the year, up from their previous forecast of ($1.14). The consensus estimate for Rezolute’s current full-year earnings is ($1.09) per share. HC Wainwright also issued estimates for Rezolute’s FY2024 earnings at ($1.77) EPS, FY2025 earnings at ($1.77) EPS, FY2026 earnings at ($2.00) EPS and FY2027 earnings at ($1.04) EPS.

Several other analysts have also recently commented on the stock. JMP Securities reissued a “market outperform” rating and set a $8.00 price target on shares of Rezolute in a research note on Monday, February 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Rezolute in a report on Monday. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $11.80.

Rezolute Price Performance

RZLT opened at $2.15 on Wednesday. Rezolute has a one year low of $1.34 and a one year high of $3.59. The company’s 50 day simple moving average is $2.04 and its 200-day simple moving average is $2.02. The stock has a market capitalization of $79.18 million, a P/E ratio of -1.92 and a beta of 2.16.

Hedge Funds Weigh In On Rezolute

Several large investors have recently bought and sold shares of the business. First Manhattan Co. lifted its holdings in Rezolute by 72.0% in the fourth quarter. First Manhattan Co. now owns 3,123,078 shares of the company’s stock valued at $6,465,000 after buying an additional 1,307,273 shares during the period. Stonepine Capital Management LLC raised its holdings in Rezolute by 2.2% in the first quarter. Stonepine Capital Management LLC now owns 3,087,649 shares of the company’s stock worth $5,928,000 after purchasing an additional 66,145 shares during the period. Nantahala Capital Management LLC acquired a new stake in Rezolute in the third quarter worth $1,969,000. Vanguard Group Inc. raised its holdings in Rezolute by 3.2% in the first quarter. Vanguard Group Inc. now owns 343,739 shares of the company’s stock worth $1,162,000 after purchasing an additional 10,500 shares during the period. Finally, Worth Venture Partners LLC raised its holdings in Rezolute by 72.5% in the first quarter. Worth Venture Partners LLC now owns 104,709 shares of the company’s stock worth $354,000 after purchasing an additional 43,991 shares during the period. 66.40% of the stock is currently owned by institutional investors and hedge funds.

Rezolute Company Profile

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Rezolute, Inc operates as a biopharmaceutical company, which engages in the development of drug therapies for patients with metabolic and orphan diseases. Its products include RZ358-Phase 2, an antibody for the ultra-orphan indication of congenital hyperinsulinism, AB101-Phase 1, a once-weekly injectable basal insulin, and RZ402, which targets diabetic macular edema.