Canaccord Genuity analyst Edward Nash has maintained their bullish stance on RZLT stock, giving a Buy rating yesterday.
Edward Nash has given his Buy rating due to a combination of factors including upcoming catalysts and underappreciation by the market. Rezolute’s developments in their pipeline, specifically the Phase II trial for RZ402 targeting diabetic macular edema (DME), are significant. The trial has reached a stage where patient dosing is complete and top-line data are expected soon. Nash believes that the market has not fully recognized the potential of this program, and the imminent release of trial results may increase investor interest, considering the sizeable market for DME treatments.
Moreover, the company’s work on RZ358 for both congenital hyperinsulinism (cHI) and tumor-associated hyperinsulinism (taHI) is progressing, with the sunRIZE Phase III study advancing and anticipated enrollment completion by late 2024. Rezolute’s recent findings from animal toxicity studies have also been positive, suggesting that previous concerns regarding liver abnormalities may not be relevant to humans. Additionally, plans for a late-stage trial for taHI are being laid out, with further updates expected in the near future, potentially providing additional positive news flow.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $14.00 price target.
Based on the recent corporate insider activity of 12 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.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
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.
