Rockwell Medical Inc (NASDAQ:RMTI) has earned an average recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $9.31.

A number of research analysts have commented on RMTI shares. Cantor Fitzgerald assumed coverage on shares of Rockwell Medical in a research note on Monday, June 24th. They set an “overweight” rating and a $11.00 price target for the company. ValuEngine raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Piper Jaffray Companies assumed coverage on shares of Rockwell Medical in a report on Monday, June 24th. They set an “overweight” rating and a $10.00 price objective for the company. Ifs Securities lowered shares of Rockwell Medical from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, June 19th. Finally, HC Wainwright set a $12.00 price objective on shares of Rockwell Medical and gave the stock a “buy” rating in a report on Tuesday, May 28th.

Shares of NASDAQ RMTI traded down $0.02 during mid-day trading on Tuesday, hitting $2.38. The company had a trading volume of 299,100 shares, compared to its average volume of 441,216. The company has a quick ratio of 2.30, a current ratio of 3.25 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $2.83 and its 200-day simple moving average is $4.19. Rockwell Medical has a 12 month low of $2.19 and a 12 month high of $6.88.

Rockwell Medical (NASDAQ:RMTI) last released its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.02). The company had revenue of $14.85 million during the quarter, compared to the consensus estimate of $16.42 million. Rockwell Medical had a negative net margin of 52.11% and a negative return on equity of 143.68%. On average, research analysts forecast that Rockwell Medical will post -0.64 EPS for the current year.

In related news, insider David S. Richmond purchased 161,457 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was acquired at an average price of $2.95 per share, with a total value of $476,298.15. Following the completion of the acquisition, the insider now directly owns 179,039 shares in the company, valued at approximately $528,165.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David S. Richmond purchased 9,780 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was bought at an average cost of $3.05 per share, with a total value of $29,829.00. Following the acquisition, the insider now owns 179,039 shares of the company’s stock, valued at $546,068.95. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 264,789 shares of company stock valued at $779,198. Company insiders own 3.90% of the company’s stock.

Several institutional investors have recently modified their holdings of RMTI. Perceptive Advisors LLC acquired a new stake in shares of Rockwell Medical in the second quarter valued at approximately $4,515,000. Vanguard Group Inc. increased its holdings in shares of Rockwell Medical by 26.9% in the second quarter. Vanguard Group Inc. now owns 2,853,258 shares of the company’s stock valued at $8,589,000 after purchasing an additional 605,032 shares in the last quarter. Luminus Management LLC acquired a new stake in shares of Rockwell Medical in the second quarter valued at approximately $1,273,000. BlackRock Inc. increased its holdings in shares of Rockwell Medical by 12.4% in the second quarter. BlackRock Inc. now owns 3,659,380 shares of the company’s stock valued at $11,015,000 after purchasing an additional 403,252 shares in the last quarter. Finally, Monashee Investment Management LLC acquired a new stake in shares of Rockwell Medical in the second quarter valued at approximately $359,000. 20.15% of the stock is owned by institutional investors and hedge funds.

About Rockwell Medical

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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