Analyst Yun Zhong from Wedbush reiterated a Buy rating on Rezolute (RZLT – Research Report) and keeping the price target at $12.00.
Yun Zhong has given his Buy rating due to a combination of factors surrounding Rezolute’s ongoing clinical trials and financial position. The company’s lead candidate, ersodetug (RZ358), is advancing positively in its Phase 3 sunRIZE study for congenital hyperinsulinism, with patient enrollment expected to start in the second quarter of 2025. The study’s interim analysis will play a crucial role, and a timely data readout is anticipated by the end of 2025, with the possibility of extending into mid-2026 if the study size increases to enhance statistical confidence.
Additionally, the initiation of a Phase 3 registrational study for tumor-induced hyperinsulinism remains on schedule for the first half of 2025. Financially, Rezolute appears stable with a cash reserve of $105.3 million, projected to sustain operations into the second half of 2026. These elements underpin a strong clinical pipeline and financial runway, justifying the Buy rating and a price target of $12 for RZLT.
In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $9.00 price target.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RZLT in relation to earlier this year.