In a report released today, Jason Butler from JMP Securities reiterated a Buy rating on Rezolute (RZLT – Research Report), with a price target of $7.00.
Jason Butler has given his Buy rating due to a combination of factors surrounding the promising developments within Rezolute’s pharmaceutical pipeline. His optimism is particularly anchored in the anticipated results from the Phase 2 trial of RZ402 for Diabetic Macular Edema (DME), which are expected imminently and could provide a significant catalyst if positive. The advancement of the Phase 3 trial for RZ358 in treating Congenital Hyperinsulinism (CHI) is also contributing to the favorable outlook, with enrollment expected to conclude by the end of 2024. Furthermore, Rezolute’s financial position, with approximately $81.6 million in cash and equivalents, is deemed sufficient to support ongoing operations through the critical upcoming trial readouts, offering a layer of financial stability that bolsters the investment thesis.
Additionally, Butler’s confidence is supported by the potential expansion of RZ358 into additional indications, such as Non-Islet Cell Tumor Hypoglycemia (NICTH) and insulinoma, which could further enhance the therapeutic’s market potential. Regulatory interactions, including recent favorable feedback from the FDA for RZ358, are also considered positive indicators of the company’s ability to navigate the pathway to late-stage development. These strategic and regulatory milestones, combined with the company’s operational readiness and the near-term data readouts, underpin Butler’s Buy rating on Rezolute’s stock.
According to TipRanks, Butler is an analyst with an average return of -6.5% and a 38.88% success rate. Butler covers the Healthcare sector, focusing on stocks such as Ironwood Pharma, Aquestive Therapeutics, and ACADIA Pharmaceuticals.
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Rezolute (RZLT) Company Description:
Rezolute, Inc. is biopharmaceutical company, which engages in the development of drug therapies for patients with metabolic and orphan diseases. Its products portfolio 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. The company was founded by Nevan Charles Elam, Ho Young Huh, and Sankaram Mantripragada on July 26, 2010 and is headquartered in Redwood City, CA.
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