Analyst Jason McCarthy from Maxim Group reiterated a Buy rating on Rezolute and keeping the price target at $20.00.
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Jason McCarthy has given his Buy rating due to a combination of factors that highlight Rezolute’s promising future. The company is on the brink of significant milestones, particularly with its Phase 3 study of ersodetug for congenital hyperinsulinism (CHI), which is expected to deliver top-line data by December. This study is crucial as it could lead to a Biologics License Application (BLA) filing, marking a major step towards commercialization. The company’s strong cash position, with $152.2 million on hand, provides financial stability and runway well into 2027, supporting ongoing development and potential market entry.
Additionally, Rezolute’s shares have seen a substantial increase, over 100% year-to-date, driven by investor interest in the rare disease sector and a recovering biotech market. The company’s strategic focus on high-prevalence markets outside the U.S., such as Saudi Arabia and Germany, coupled with a planned step-wise sales force expansion, further strengthens its commercial prospects. These elements, combined with a favorable regulatory alignment with the FDA, underpin McCarthy’s confidence in the stock’s potential, justifying the Buy rating and a 12-month price target of $20.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $12.00 price target.