Stock Update (NASDAQ:RMTI): Rockwell Medical Inc Preparing for Calcitriol Commercial Launch
Rockwell Medical Inc (NASDAQ:RMTI) provided an update on the commercial launch of Calcitriol, stating that stability data for completed finished product for commercial sale continues to remain within specification. As a result, the Company anticipates Calcitriol will become commercially available in the U.S. in approximately 45 days. Calcitriol is Rockwell’s FDA approved active Vitamin D injection for the management of hypocalcemia in patients undergoing chronic renal dialysis. (Original Source)
Shares of Rockwell Medical closed yesterday at $6.55, down $0.16 or -2.38%. RMTI has a 1-year high of $13.50 and a 1-year low of $5.47. The stock’s 50-day moving average is $7.20 and its 200-day moving average is $7.80.
On the ratings front, Rockwell has been the subject of a number of recent research reports. In a report issued on August 19, BTIG analyst Ling Wang initiated coverage with a Buy rating on RMTI and a price target of $12, which implies an upside of 83% from current levels. Separately, on August 9, Brean Murray Carret’s Jonathan Aschoff 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, Ling Wang and Jonathan Aschoff have a total average return of -18.4% and -7.7% respectively. Wang has a success rate of 28% and is ranked #4041 out of 4175 analysts, while Aschoff has a success rate of 41% and is ranked #4019.
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.