Rockwell Medical (NASDAQ:RMTI) Share Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Rockwell Medical, Inc. (NASDAQ:RMTI) shares crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $7.56 and traded as high as $7.62. Rockwell Medical shares last traded at $6.94, with a volume of 13,259 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RMTI. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Rockwell Medical in a research note on Friday, September 11th. Zacks Research lowered Rockwell Medical from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. Weiss Ratings upgraded Rockwell Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen upgraded Rockwell Medical to a “hold” rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $20.00.

Rockwell Medical Stock Performance

The firm’s 50 day moving average is $7.96 and its two-hundred day moving average is $7.56. The stock has a market capitalization of $27.97 million, a PE ratio of -5.18 and a beta of 1.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.00 and a current ratio of 3.25.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Rockwell Medical stock. Corsair Capital Management L.P. purchased a new position in shares of Rockwell Medical, Inc. (NASDAQ:RMTI) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 50,000 shares of the company’s stock, valued at approximately $45,000. Corsair Capital Management L.P. owned 0.13% of Rockwell Medical at the end of the most recent reporting period. 23.31% of the stock is owned by institutional investors and hedge funds.

About Rockwell Medical

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.