BTIG Starts Rockwell Medical Technologies (RMTI) at Buy

August 19, 2016 8:28 AM EDT
Get Alerts RMTI Hot Sheet
Price: $6.09 +0.83%

Rating Summary:
    7 Buy, 3 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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BTIG initiated coverage on Rockwell Medical Technologies (NASDAQ: RMTI) with a Buy rating and a price target of $12. Analyst Ling Wang highlighted Triferic's value proposition.

"RMTI’s lead asset, Triferic, has the potential to replace IV iron in hemodialysis patients. Although there is a near-term delay in Triferic ramp-up due to pursuing transitional add-on reimbursement, we view the effort as worthwhile, given the added incentive for dialysis providers. Our Buy thesis is not based on securing transitional add-on payment. Rather, we believe Triferic’s value proposition remains intact even without it. We see RMTI shares as significantly undervalued at the current level with Triferic (projected peak sales of $180M+), Calcitriol (peak sales of $48M+) and a base business with a revenue run rate of ~$50M," said Wang.

For an analyst ratings summary and ratings history on Rockwell Medical Technologies click here. For more ratings news on Rockwell Medical Technologies click here.

Shares of Rockwell Medical Technologies closed at $7.37 yesterday.

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