Investors in Rockwell Medical Cheer as Analyst Lifts Price Target to $25, Representing 200+% Upside
Shares of Rockwell Medical (NASDAQ: RMTI) have rallied more than 36 percent Thursday afternoon following a boosted price target from one of the few analysts who currently cover the stock.
Traders and analysts are responding to news from Wednesday morning the company's SFP met both primary and secondary endpoints in a Phase 3 CRUISE-2 study. Shares of Rockwell rallied about 8 percent over the course of Wednesday's trading session.
Summer Street's Carol Werther lifted her price target on shares of Rockwell earlier from $20 to $25 while maintaining a Buy rating.
With Rockwell Medical shares last trading around $8.10, the Summer Street analyst's new price target represents potential upside of a whopping 200-plus percent from where the stock is currently trading.
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