Rezolute (RZLT) PT Raised to $14 at Jefferies

Jefferies analyst Maury Raycroft raised the price target on Rezolute (NASDAQ: RZLT) to $14.00 (from $13.00) while maintaining a Buy rating.

The analyst comments "RZLT is up +49% YTD (vs XBI +2.5%) based on IDMC's decision not to upsize CHI pivotal, de-risking ph.III baseline data disclosed, and w/ cash strengthening. We believe the stock is undervalued at ~$500M EV heading into pivotal topline in ~mid-Dec (stock +100%/-75%) & could re-rate to ~2-3x multiple on est $415M in peak sales for CHI. Co could pot'ly file for full approval in CHI and accel approval in taHI based on evolving discussions w/ FDA under BTD."

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