Rockwell Medical On Course To Reach Profitability By Late 2024, Analyst Says
Portfolio Pulse from Nabaparna Bhattacharya
H.C. Wainwright analyst Raghuram Selvaraju has reiterated a Buy rating on Rockwell Medical, Inc. (NASDAQ:RMTI), raising the price target to $11 from $9. This follows Rockwell Medical's acquisition of a hemodialysis concentrates business from Evoqua Water Technologies. The analyst believes that Rockwell could break even in operating cash flow during 2024 and reach profitability by late 2024. The company's shares are currently trading higher by 24% to $3.96.
July 17, 2023 | 4:57 pm
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Rockwell Medical's acquisition of a hemodialysis concentrates business could lead to profitability by late 2024, according to an analyst. The company's shares are currently trading higher.
The news of Rockwell Medical's acquisition and the subsequent positive analyst rating is likely to boost investor confidence, leading to a potential increase in the company's stock price in the short term.
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