Stock Update (NASDAQ:RMTI): Rockwell Medical Inc Announces Triferic Presentation at the National Kidney Foundation Spring Clinical Meeting


Rockwell Medical, Inc. (NASDAQ:RMTI), a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron replacement, secondary hyperparathyroidism and hemodialysis, announced today that Dr. Steven Fishbane, MD, Chief of Nephrology, Northwell Health, will present “Overcoming Functional Iron Deficiency in Your Hemodialysis Patients” at the National Kidney Foundation Spring Clinical Meeting, Friday, April 29th at12:15PM EDT at Exhibitor Showcase Booth 125 at the Hynes Convention Center in Boston, Massachusetts.

“There is a growing consensus within the nephrology community that iron overload is, unfortunately, a very real problem in hemodialysis patients,” stated Dr. Steven Fishbane, MD, Chief of Nephrology, Northwell Health. “There is a real need to deliver iron to patients at every dialysis treatment, iron that will bind immediately to transferrin and that will be utilized quickly, avoiding liver entrapment and the related toxicity and adverse outcomes. Triferic has a unique mode-of-action that enables it to bind iron immediately to transferrin and get to the bone marrow, overcoming the functional iron deficiency that occurs with all intravenous iron products, which are really being used outside of their approved indication. Triferic has shown it can safely deliver iron and maintain Hgb without increasing ferritin, overcoming the functional iron deficiency present in hemodialysis patients.” (Original Source)

Shares of Rockwell Medical closed yesterday at $9.69, down $0.02 or -0.21%. RMTI has a 1-year high of $18.90 and a 1-year low of $5.47. The stock’s 50-day moving average is $7.42 and its 200-day moving average is $8.83.

On the ratings front, Rockwell Medical has been the subject of a number of recent research reports. In a report issued on April 6, Morgan Stanley analyst Andrew Berens reiterated a Sell rating on RMTI, with a price target of $3, which implies a downside of 69.0% from current levels. Separately, on March 1, Stifel Nicolaus’ Annabel Samimy downgraded the stock to Hold .

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Andrew Berens and Annabel Samimy have a total average return of 14% and 13% respectively. Berens has a success rate of 67.7% and is ranked #442 out of 3839 analysts, while Samimy has a success rate of 59.4% and is ranked #292.

Rockwell Medical is a biopharmaceutical company, which engages in the targeting of end-stage renal disease and chronic kidney disease and manufactures innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. Its dialysis products include Triferic, Calcitriol Vitamin D Injection, Hemodialysis Concentrates, CitraPure, Dri-Sate, and ancillary products. The company was founded by Robert L. Chioini in January 1995 and is headquartered in Wixom, MI.