Maxim initiated coverage of Rockwell Medical with a Buy rating and $5.00 price target. The company is the second largest supplier of liquid and powder acid and bicarbonate concentrates for dialysis patients in the U.S., and given that there are 37M adults living with chronic kidney disease, Rockwell Medical is positioned for further growth, the analyst tells investors in a research note. Maxim adds that Rockwell Medical is on a path to profitability due to changes by the CEO, Dr. Strobeck, and a recent acquisition that expands its geographic footprint, with customer base that added $4M to the topline and automated its manufacturing process.
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