Wedbush Morgan Rockwell Initiates Coverage on Medical Technologies (RMTI) with an Outperform; Best-in-Class Treatment for Anemia

October 12, 2009 1:18 PM EDT

Wedbush Morgan Rockwell initiates coverage on Medical Technologies, Inc. (Nasdaq: RMTI) with an Outperform rating. Price target $12.

Wedbush analyst says, "We believe that Rockwell is poised to capitalize on a potentially high-revenue and best-in-class treatment for anemia among its existing dialysate customers. Rockwell Medical Technologies, Inc. (RMTI) is the second leading manufacturer and distributor of dialysate for use in dialysis machines during the treatment of patients with Kidney Failure. Not only does the company’s dialysate business provide useful cash (we estimate that the RMTI would have already achieved profitability if it were not for ongoing R&D efforts), but it also provides a valuable captive market for RTMI’s Phase IIb drug candidate, Soluble Ferric Pyrophosphate (SFP). We believe SFP has best-inclass potential, with a profile suggesting: (1) cheaper administration; (2) less liver toxicity; (3) less risk of anaphylaxis; (4) less requirement for expensive and potentially dangerous EPO; and (5) greater efficacy in treating and or preventing anemia."

To see more analyst ratings on RMTI Click Here.

Rockwell Medical Technologies, Inc., an integrated biopharmaceutical company, offers products and services targeting end-stage renal disease, chronic kidney disease, and iron deficiency anemia.

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