Wall Street brokerages expect that Rockwell Medical Inc (NASDAQ:RMTI) will report $16.42 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Rockwell Medical’s earnings, with estimates ranging from $15.86 million to $17.30 million. Rockwell Medical posted sales of $14.91 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.1%. The firm is expected to issue its next quarterly earnings report on Tuesday, August 13th.

According to Zacks, analysts expect that Rockwell Medical will report full year sales of $70.30 million for the current fiscal year, with estimates ranging from $64.55 million to $75.64 million. For the next fiscal year, analysts forecast that the business will report sales of $108.93 million, with estimates ranging from $90.15 million to $127.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Rockwell Medical.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. The company had revenue of $15.56 million for the quarter, compared to analysts’ expectations of $16.90 million. Rockwell Medical had a negative net margin of 55.09% and a negative return on equity of 144.07%.

Several research firms recently weighed in on RMTI. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Piper Jaffray Companies set a $30.00 price objective on shares of Under Armour and gave the stock a “buy” rating in a research report on Monday, June 24th. Cantor Fitzgerald began coverage on shares of Rockwell Medical in a research report on Monday, June 24th. They issued an “overweight” rating and a $11.00 price objective on the stock. Ifs Securities cut shares of Rockwell Medical from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, June 19th. Finally, HC Wainwright set a $55.00 price target on shares of Acer Therapeutics and gave the company a “buy” rating in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $9.65.

Shares of RMTI stock traded up $0.12 during trading on Monday, hitting $3.02. The company had a trading volume of 722,723 shares, compared to its average volume of 479,344. The company has a quick ratio of 2.30, a current ratio of 2.56 and a debt-to-equity ratio of 0.07. The business’s 50-day simple moving average is $3.49. The firm has a market cap of $166.94 million, a PE ratio of -6.43 and a beta of 1.47. Rockwell Medical has a 52 week low of $2.19 and a 52 week high of $6.88.

In related news, CFO Angus W. Smith acquired 10,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $3.06 per share, with a total value of $30,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David S. Richmond acquired 4,643 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were bought at an average cost of $5.65 per share, with a total value of $26,232.95. Following the purchase, the insider now owns 178,436 shares of the company’s stock, valued at approximately $1,008,163.40. The disclosure for this purchase can be found here. Insiders have acquired 34,423 shares of company stock worth $116,362 over the last quarter. Company insiders own 3.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in shares of Rockwell Medical by 47.3% during the fourth quarter. Rhumbline Advisers now owns 64,421 shares of the company’s stock valued at $146,000 after purchasing an additional 20,678 shares during the period. Valeo Financial Advisors LLC boosted its stake in shares of Rockwell Medical by 2,378.7% during the first quarter. Valeo Financial Advisors LLC now owns 24,787 shares of the company’s stock valued at $141,000 after purchasing an additional 23,787 shares during the period. Perkins Capital Management Inc. boosted its stake in shares of Rockwell Medical by 5.9% during the first quarter. Perkins Capital Management Inc. now owns 445,300 shares of the company’s stock valued at $2,534,000 after purchasing an additional 24,800 shares during the period. BlackRock Inc. boosted its stake in shares of Rockwell Medical by 0.4% during the fourth quarter. BlackRock Inc. now owns 3,233,156 shares of the company’s stock valued at $7,306,000 after purchasing an additional 11,911 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Rockwell Medical by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 244,130 shares of the company’s stock valued at $552,000 after purchasing an additional 10,863 shares during the period. 19.88% of the stock is owned by hedge funds and other institutional investors.

Rockwell Medical Company Profile

Rockwell Medical, Inc operates as a specialty pharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis. The company offers Triferic, an iron therapy that replaces iron and maintains hemoglobin in dialysis patients without increasing iron stores; and Calcitriol, an active vitamin D injection for the management of hypocalcemia in patients undergoing chronic hemodialysis.

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Earnings History and Estimates for Rockwell Medical (NASDAQ:RMTI)

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