In a report released today, Yun Zhong from Wedbush maintained a Buy rating on Rezolute (RZLT – Research Report), with a price target of $12.00.
Yun Zhong has given his Buy rating due to a combination of factors surrounding Rezolute’s promising developments in their ongoing clinical trials. The interim analysis of the Phase 3 sunRIZE study for ersodetug (RZ358) in treating congenital hyperinsulinism (cHI) showed positive outcomes, allowing the study to proceed without increasing the sample size. This decision, based on the Data Monitoring Committee’s recommendation, indicates confidence in the drug’s efficacy.
Furthermore, previous Phase 2b study results demonstrated significant reductions in hypoglycemia events, supporting the potential success of the Phase 3 trial. The recent approval for infant patient enrollment further underscores the safety profile of ersodetug, a critical factor given the dynamic nature of the disease in younger patients. Additionally, Rezolute’s alignment with the FDA to advance into a Phase 3 registrational study for another condition, transient hyperinsulinism (tHI), based on favorable data, adds to the positive outlook for the company’s future prospects.
According to TipRanks, Zhong is an analyst with an average return of -21.4% and a 31.02% success rate. Zhong covers the Healthcare sector, focusing on stocks such as Protagonist Therapeutics, Ascendis Pharma, and Rezolute.