Rezolute initiated with a Buy at JonesResearch

JonesResearch analyst Catherine Novack initiated coverage of Rezolute with a Buy rating and $10 price target. The analyst says Rezolute is an “under-appreciated player in the rare disease space,” with its lead asset RZ358 in Phase 3 for congenital hyperinsulinism, a disease that causes life-threatening low blood sugar in children and infants. The firm sees growing value in label expansion, saying RZ358 can mitigate hypoglycemia caused by some rare tumors, and pivotal studies could start as early as 2025. Its 2030 global sales estimate for RZ358 indications combined is $650M.