Rockwell Medical (NASDAQ:RMTI) Downgraded by Zacks Research to “Strong Sell”

Rockwell Medical (NASDAQ:RMTI) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday, Zacks reports.

Several other analysts have also issued reports on RMTI. Wall Street Zen upgraded Rockwell Medical to a “hold” rating in a research note on Saturday, July 25th. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Rockwell Medical in a research note on Friday, September 11th. Finally, Weiss Ratings raised Rockwell Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $20.00.

Rockwell Medical Price Performance

NASDAQ:RMTI opened at $7.98 on Wednesday. The stock has a market capitalization of $32.16 million, a PE ratio of -5.96 and a beta of 1.63. Rockwell Medical has a 1-year low of $4.89 and a 1-year high of $12.90. The firm has a fifty day simple moving average of $7.97 and a 200 day simple moving average of $7.63. The company has a current ratio of 3.25, a quick ratio of 3.00 and a debt-to-equity ratio of 0.21.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.10). The firm had revenue of $17.78 million for the quarter, compared to the consensus estimate of $17.82 million. Rockwell Medical had a negative return on equity of 14.03% and a negative net margin of 7.33%. On average, research analysts expect that Rockwell Medical will post -0.90 EPS for the current fiscal year.

Institutional Trading of Rockwell Medical

A hedge fund recently raised its stake in Rockwell Medical stock. Renaissance Technologies LLC boosted its stake in Rockwell Medical, Inc. (NASDAQ:RMTI) by 36.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 639,120 shares of the company’s stock after buying an additional 170,800 shares during the period. Renaissance Technologies LLC owned approximately 1.62% of Rockwell Medical worth $571,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 23.31% of the company’s stock.

Rockwell Medical Company Profile

Rockwell Medical, Inc is a biopharmaceutical company focused on developing and commercializing products for the treatment of iron deficiency and anemia associated with chronic kidney disease, particularly in patients receiving hemodialysis. The company’s products are designed to support iron management while addressing the needs of dialysis providers and their patients.

Rockwell Medical’s principal products include Triferic, an iron replacement therapy delivered through the dialysate during hemodialysis, and Triferic AVNU, an intravenous formulation.