H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Rockwell Med (RMTI) today and set a price target of $12. The company’s shares closed yesterday at $2.96, close to its 52-week low of $2.19.
Selvaraju wrote:
“We have valued Rockwell Medical based on a discounted cash flow (DCF)-driven assessment, which ascribes a total firm value of $735M to the company based solely on the Triferic product line in the U.S. and the company’s core dialysate franchise.”
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 3.1% and a 33.0% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Rockwell Med with a $11 average price target, representing a 271.6% upside. In a report issued on June 19, IFS Securities, Inc also maintained a Buy rating on the stock with a $11 price target.
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The company has a one-year high of $6.88 and a one-year low of $2.19. Currently, Rockwell Med has an average volume of 357.4K.
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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.
