H.C. Wainwright Reiterates a Buy Rating on Rockwell Med (RMTI)


In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Rockwell Med (RMTI), with a price target of $12. The company’s shares closed on Friday at $4.72.

Selvaraju wrote:

“We anticipate that I.V. Triferic could be launched in 1H20. The target market for both Dialysate and I.V. Triferic may reach roughly 500,000 patients in the U.S. alone, corresponding to peak sales of nearly $1B by 2028. Our market model assumptions have been revised to account for the stated wholesale acquisition cost (WAC) pricing format on $8.00 per powder packet treatment and $9.50 per liquid ampule treatment—translating into annualized pricing of $1,250 – 1,500 per patient—while our I.V. Triferic pricing assumptions remain unchanged. The peak market penetration rate for I.V. Triferic has been raised to 15% vs. the prior 8%. Our total projected firm value has risen to $733M vs. the prior $653M. We reiterate our Buy rating, while raising the 12-month target to $12.00 from the prior $11.00 per share.”

According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.0% and a 29.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

Rockwell Med has an analyst consensus of Moderate Buy, with a price target consensus of $11.50.

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Based on Rockwell Med’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $8.68 million. In comparison, last year the company had a GAAP net loss of $5.55 million.

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Rockwell Medical, Inc. engages in targeting end-stage renal disease and chronic kidney disease. Its dialysis products include hemodialysis concentrates, citrapure, dri-sate, safety data sheets,ancillary products, and renal pure. The company was founded by Robert L. Chioini in January 1995 and is headquartered in Wixom, MI.

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