Oppenheimer analyst Ling Wang weighed in today with a few insights on Rockwell Medical Inc (NASDAQ:RMTI), after having a meeting with CEO Robert Chioini and CMO Raymond Pratt. The analyst reiterated an Outperform rating on the stock with a price target of $26, which implies an upside of 81% from current levels.
Wang stated, “We remain positive on the shares—Triferic launch is still expected in July/August time frame. Management is bullish on Triferic roll-out and expects a short conversion time (from IV iron) given the simplicity of using Triferic and the clinical/cost-saving benefits. We continue to expect Triferic launch to be strong, replacing IV iron as an iron replacement therapy to maintain hemoglobin in HD CKD patients. Triferic has geographic and label expansion opportunities, potentially offering upside to our valuation.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ling Wang has a total average return of -1.4% and a 43.2% success rate. Wang has a 18.3% average return when recommending RMTI, and is ranked #2937 out of 3638 analysts.
Out of the 5 analysts polled by TipRanks, 3 rate Rockwell stock a Buy, while 2 rate the stock a Sell. With a return potential of 18%, the stock’s consensus target price stands at $17.