JMP Securities analyst Jason Butler has reiterated their bullish stance on RZLT stock, giving a Buy rating on February 8.
Jason Butler has given his Buy rating due to a combination of factors related to Rezolute’s ongoing developments and financial positioning. Rezolute is approaching a pivotal moment with the expected release of Phase 2 trial results for RZ402 in diabetic macular edema (DME) in the second quarter of 2024. The successful enrollment and completion of this trial underscore the company’s progress in addressing DME. Concurrently, RZ358 is moving forward in both congenital hyperinsulinism (cHI) and tumor-associated hyperinsulinism (taHI), with interactions with the FDA suggesting a positive regulatory path forward. Additionally, the company’s financial reserves are deemed adequate to support its operations until the next major milestones are reached, providing a level of security for investors.
Butler’s confidence is further bolstered by Rezolute’s strategic advancements, including the expansion of RZ358 into a new rare disease indication. This expansion is based on compelling evidence from expanded access program results and a favorable FDA response that could lead to a late-stage development program targeted at taHI. Moreover, the financial results for F2Q24 align with projections, reinforcing the company’s stability and potential for future growth. These elements collectively substantiate Butler’s Buy rating, reflecting optimism about Rezolute’s therapeutic pipeline and its prospects for delivering shareholder value.
According to TipRanks, Butler is an analyst with an average return of -4.1% and a 40.40% success rate. Butler covers the Healthcare sector, focusing on stocks such as Morphosys Ag, Cormedix, and Argenx Se.
In another report released on February 8, H.C. Wainwright also maintained a Buy rating on the stock with a $14.00 price target.
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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.
Read More on RZLT:
- Rezolute Reports Second Quarter Fiscal 2024 Results and Provides Business Update
- Is RZLT a Buy, Before Earnings?
- Rezolute Receives Innovation Passport, Appoints New CFO
- Rezolute appoints Evans as Chief Financial Officer
- Rezolute Expands Leadership Team with Appointment of Daron Evans, MS, MBA, as Chief Financial Officer
