Rockwell Medical Inc. (NASDAQ:RMTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Rockwell Medical Technologies, Inc. manufactures hemodialysis concentrates and dialysis kits, and sells, distributes and delivers such concentrates and dialysis kits, as well as other ancillary hemodialysis products, to hemodialysis providers in the United States. Hemodialysis is a process which is able to duplicate kidney function in patients whose kidneys have failed to function properly. “

A number of other analysts have also recently commented on the stock. BTIG Research started coverage on shares of Rockwell Medical in a research report on Friday, August 19th. They issued a “buy” rating and a $12.00 price objective for the company. Bank of America Corp. cut shares of Rockwell Medical from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $9.00 to $5.00 in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $9.92.

Analyst Recommendations for Rockwell Medical (NASDAQ:RMTI)

Shares of Rockwell Medical (NASDAQ:RMTI) opened at 5.11 on Friday. The firm’s market cap is $263.30 million. Rockwell Medical has a 12 month low of $3.55 and a 12 month high of $12.42. The firm has a 50 day moving average price of $6.09 and a 200-day moving average price of $7.50.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings results on Monday, November 7th. The company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. Rockwell Medical had a negative return on equity of 33.60% and a negative net margin of 37.98%. The company had revenue of $12.81 million for the quarter, compared to the consensus estimate of $15.40 million. During the same quarter in the prior year, the business posted ($0.05) EPS. The firm’s quarterly revenue was down 10.9% on a year-over-year basis. On average, analysts predict that Rockwell Medical will post ($0.39) EPS for the current fiscal year.

In other news, Director Kenneth L. Holt sold 3,692 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $7.31, for a total value of $26,988.52. Following the completion of the transaction, the director now owns 63,475 shares in the company, valued at approximately $464,002.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth L. Holt sold 9,520 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $6.37, for a total value of $60,642.40. Following the completion of the transaction, the director now owns 56,048 shares of the company’s stock, valued at approximately $357,025.76. The disclosure for this sale can be found here. 15.90% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Starfire Investment Advisers Inc. bought a new position in shares of Rockwell Medical during the second quarter valued at $100,000. WealthTrust Axiom LLC bought a new position in shares of Rockwell Medical during the second quarter valued at $100,000. US Bancorp DE bought a new position in shares of Rockwell Medical during the third quarter valued at $124,000. Paloma Partners Management Co bought a new position in shares of Rockwell Medical during the second quarter valued at $125,000. Finally, InterOcean Capital LLC boosted its position in shares of Rockwell Medical by 3.0% in the second quarter. InterOcean Capital LLC now owns 19,165 shares of the company’s stock valued at $145,000 after buying an additional 550 shares during the last quarter. Institutional investors own 21.32% of the company’s stock.

Rockwell Medical Company Profile

Rockwell Medical, Inc (Rockwell) is a biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. The Company operates through the hemodialysis market segment, which involves the manufacture, sale and distribution of hemodialysis products to hemodialysis clinics, including pharmaceutical, dialysis concentrates, dialysis kits and other ancillary products used in the dialysis process.

5 Day Chart for NASDAQ:RMTI

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