Shares of biopharmaceutical company Rockwell Medical (NASDAQ:RMTI) are soaring higher today after it bagged a three-year, multi-million dollar purchase deal with a non-profit dialysis provider in the U.S.
Importantly, RMTI will act as the preferred supplier of liquid and dry acid and bicarbonate concentrates to the customer’s hemodialysis facilities across the U.S.
Furthermore, RMTI is aiming to achieve profitability in 2024 and anticipates achieving multiple similar arrangements in the coming periods.
Overall, Wall Street has a consensus price target of $8 on RMTI, implying a 306% potential upside in the stock. That’s after a nearly 57.3% drop in the company’s share price over the past year.
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