We continue to believe the odds are in favor of positive results from CRUISE-1 and CRUISE-2 in July and October, respectively. We reiterate our BUY rating and are sticking with our $20 YE13 price target. With increased confidence following the PRIME study and the financing to complete the CRUISE trials and 2013 calcitriol launch, we have raised our multiple on EPS from 20x to 25x on 2015 EPS of $1.37 (down from $2.13) and lowered our discounted rate to 30% from 40%.
Yahoo Finance lists RMTI as "strong buy" and $15.33 mean target, with low/height at $11/$20.
It is a little strange to me if RMTI is going to wait until the last a few days before top-line numbers out in July. I read some other similar stocks had raised dramatically a few months before Phase III data release.