Rockwell Medical (NASDAQ:RMTI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Rockwell Medical (NASDAQ:RMTI) to a hold rating in a research report report published on Saturday morning.

RMTI has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $20.00 target price (up from $2.00) on shares of Rockwell Medical in a research note on Thursday, July 9th. Weiss Ratings lowered Rockwell Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.00.

Rockwell Medical Trading Up 5.6%

RMTI opened at $7.00 on Friday. The firm’s fifty day moving average is $6.55 and its two-hundred day moving average is $8.51. The firm has a market cap of $27.79 million, a PE ratio of -4.67 and a beta of 1.61. Rockwell Medical has a twelve month low of $4.89 and a twelve month high of $21.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.43 and a current ratio of 3.74.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.30). Rockwell Medical had a negative net margin of 7.98% and a negative return on equity of 15.41%. The firm had revenue of $17.34 million during the quarter, compared to analyst estimates of $17.95 million. Equities research analysts anticipate that Rockwell Medical will post -0.76 EPS for the current year.

Institutional Investors Weigh In On Rockwell Medical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Corsair Capital Management L.P. acquired a new position in Rockwell Medical in the 1st quarter worth $45,000. XTX Topco Ltd raised its stake in shares of Rockwell Medical by 286.5% in the 4th quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock valued at $52,000 after purchasing an additional 46,029 shares during the period. Jane Street Group LLC acquired a new stake in shares of Rockwell Medical in the 4th quarter valued at about $84,000. Geode Capital Management LLC raised its stake in shares of Rockwell Medical by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock valued at $304,000 after purchasing an additional 41,668 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Rockwell Medical by 36.5% in the first quarter. Renaissance Technologies LLC now owns 639,120 shares of the company’s stock valued at $571,000 after purchasing an additional 170,800 shares in the last quarter. 23.31% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Medical Company Profile

Rockwell Medical, Inc is a Delaware‐domiciled biopharmaceutical company focused on the development and commercialization of therapies for patients with chronic kidney disease (CKD). The company’s mission centers on addressing common complications in CKD—namely iron deficiency and secondary hyperparathyroidism—through innovative treatment approaches designed for dialysis settings.

The company’s lead product, TRIFERIC®, is an iron replacement therapy approved by the U.S. Food and Drug Administration for use in hemodialysis patients.