H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Rockwell Med today and set a price target of $3.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors, primarily centered around Rockwell Medical’s strategic initiatives and market positioning. The company recently secured a multi-year service agreement with Innovative Renal Care, a major player in the U.S. dialysis service sector. This agreement is expected to stabilize Rockwell’s revenue stream and facilitate growth by providing IRC with essential hemodialysis products, thereby minimizing supply chain disruptions and enhancing operational efficiency.
Additionally, Rockwell Medical is actively pursuing growth opportunities by expanding its customer base, particularly in the western United States, and maintaining its position as a leading supplier of hemodialysis concentrates. The company is also exploring new product opportunities to further strengthen its renal product portfolio. Valuation-wise, Rockwell Medical’s enterprise value, combined with its cash reserves and manageable debt, supports a favorable outlook. Despite potential risks such as market traction and partnership challenges, the overall assessment justifies a Buy rating with a 12-month price target of $3.
Selvaraju covers the Healthcare sector, focusing on stocks such as Urogen Pharma, Axsome Therapeutics, and Cognition Therapeutics. According to TipRanks, Selvaraju has an average return of 16.9% and a 47.60% success rate on recommended stocks.