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 it has received Grant of Protection relating to International Trademark Registration in multiple countries, including China, Japan, South Korea, Hong Kong, Philippines, Colombia, Australia and New Zealand on the Triferic® trademark. Triferic is the Company’s innovative iron-replacement drug for the treatment of anemia in chronic kidney disease patients receiving hemodialysis.
“We are pleased to obtain these multiple trademark approvals for Triferic which will preserve and protect the equity of this brand in the global marketplace,” stated Robert L. Chioini, Founder, Chairman and Chief Executive Officer of Rockwell. “We expect Triferic to become a major, global well-known brand, not only in the dialysis space but also in several other critical therapeutic areas in which anemia and functional iron deficiency need to be addressed, so it is important for us to secure trademark protection for this new, exciting innovative therapy.” (Original Source)
Shares of Rockwell Medical closed yesterday at $8.45, up $1.13 or 15.44%. 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 $7.98 and its 200-day moving average is $8.65.
On the ratings front, Rockwell has been the subject of a number of recent research reports. In a report released yesterday, Brean Murray Carret analyst Jonathan Aschoff reiterated a Sell rating on RMTI, with a price target of $4, which implies a downside of 52.7% from current levels. Separately, on the same day, Morgan Stanley’s Andrew Berens reiterated a Sell rating on the stock and has a price target of $3.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jonathan Aschoff and Andrew Berens have a total average return of -12.4% and 12.8% respectively. Aschoff has a success rate of 32.2% and is ranked #3824 out of 3845 analysts, while Berens has a success rate of 59.5% and is ranked #436.
Overall, 2 research analysts have rated the stock with a Sell rating, 2 research analysts have assigned a Hold rating and . When considering if perhaps the stock is under or overvalued, the average price target is $5.00 which is -40.8% under where the stock closed yesterday.
Rockwell Medical, Inc. 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.