Rockwell Medical (NASDAQ: RMTI) Initiated at Outperform, $12 Target

Written by Mike Havrilla

Tuesday, 13 October 2009 09:35

On 10/12/09, Wedbush Morgan initiated coverage of Rockwell Medical (NASDAQ: RMTI) with an outperform rating and $12 per share fair value price target with a summary of the major points included below.

Rockwell Medical (NASDAQ: RMTI): Wedbush Morgan 10/12/09 (follow preceding link to view or download the PDF report)

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1.) 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.

2.) We believe that SFP is poised to benefit from anticipated changes to government funding of dialysis clinics.

3.) We predict that Rockwell has cash runway into late 2011.

4.) Our fair value of $12 per share suggests that Rockwell holds the potential to increase 52% in the near-term.

Disclosure: Long RMTI