Why Oppenheimer Still Thinks Rockwell Medical Could Double

• Oppenheimer reiterated an Outperform rating and $26.00 price target on shares of Rockwell Medical Inc (NASDAQ: RMTI).
• In a report issued Tuesday, analysts previewed the upcoming American Society of Nephrology (ASN) Kidney Week, and assured that “Data Continues to Support Triferic Long-term Efficacy and Safety.”
• Shares of Rockwell Medical fell 9.32 percent on Wednesday.

Rockwell Medical will have four poster presentations in the American Society of Nephrology Kidney Week, an event that will be held in San Diego between November 3 and November 8.

In the aforementioned report, Oppenheimer analyst Ling Wang explained his bullish stance on the company ahead of the ASN: “Triferic continues to show favorable efficacy and safety profile in long-term expansion phase III studies.”

Related Link: Rockwell Medical Announces Four Triferic Posters Accepted for Presentation at American Society of Nephrology (ASN) Clinical Meeting November 2015

“A pooled analysis across two phase III and multiple OL or controlled phase II trials showed Triferic's safety profile similar to that of placebo,” he continued.

Consequently, the firm continues to believe the drug could potentially boast both clinical and cost benefits, compared to IV iron. The analysts expect the ASN event to offer an “excellent forum to showcase Triferic to dialysis providers and nephrologists.”

In fact, the analysts anticipate “top-line growth, a fast path to profitability and potential business development activities to drive the shares.”

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.