In a report released today, Yun Zhong from Wedbush reiterated a Buy rating on Rezolute, with a price target of $12.00.
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Yun Zhong has given his Buy rating due to a combination of factors surrounding Rezolute’s promising developments in their clinical trials. The alignment between Rezolute and the FDA regarding the Phase 3 sunRIZE study for ersodetug in congenital hyperinsulinism (HI) suggests a clear path towards regulatory approval, with expectations for positive top-line data in December. This data is anticipated to provide strong clinical evidence supporting ersodetug’s efficacy, potentially qualifying it for a priority review and paving the way for a U.S. market entry in the coming years.
Furthermore, the company’s financial health, with a cash reserve of $152.2 million, supports its runway to mid-2027, indicating a stable financial position to advance its pipeline. The potential for ersodetug to become a go-to second-line therapy for congenital HI patients, particularly those who are nonresponsive or intolerant to current standard treatments, suggests a significant market opportunity. These factors collectively underpin Yun Zhong’s optimistic outlook and Buy rating for Rezolute’s stock.
Zhong covers the Healthcare sector, focusing on stocks such as MannKind, Rezolute, and Protagonist Therapeutics. According to TipRanks, Zhong has an average return of -9.0% and a 42.50% success rate on recommended stocks.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $14.00 price target.