Oppenheimer's Still Buying Rockwell Medical: Channel Checks And Insider Buying Explain Why

In a report published Friday, Oppenheimer analyst Ling Wang pointed out that an industry expert had given positive feedback about the benefits of Triferic, besides indicating his organization's plans to use Triferic at several pilot centers soon after its commercial launch. The analyst maintained an Outperform rating on

, with a price target of $26, after the industry expert's positive feedback on the upcoming Triferic launch. The industry expert believed that the science and clinical data behind Triferic was "compelling," and this combined with the cost-saving benefit, made Triferic "an attractive product." The expert "anticipates the pilot studies to be short and ramp-up to be quick," Wang wrote. Apart from the clinical benefit visible in the trials, the immediate savings in recurrent costs related to needle syringes, and in nursing time for delivering IV iron are expected to encourage dialysis providers to use Triferic, the report added. Rockwell Medical's growth prospects will be determined by the company's ability to successfully launch Triferic at the right price and via the right channels. "With recent weakness in shares, several members of RMTI management including the CEO, CSO and VP of Drug Development purchased shares in the open market. We see insider buying as a positive sign for the Triferic launch," Wang added.