Rezolute price target lowered to $6 from $15 at Guggenheim

Guggenheim lowered the firm’s price target on Rezolute (RZLT) to $6 from $15 and keeps a Buy rating on the shares. Following the failure of the sunRIZE trial, the firm is eliminating cHI from its model despite managment’s “optimism” on a potential path forward, the analyst tells investors. The firm’s lower target reflects the elimination of cHI, a lower price point forecast for tHI and lower odds of success, until proven otherwise, for tHI, the analyst noted.