Rockwell Medical (NASDAQ:RMTI) Rating Increased to Hold at Wall Street Zen

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

RMTI has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and issued a $20.00 price target (up from $2.00) on shares of Rockwell Medical in a report on Thursday, July 9th. Weiss Ratings lowered shares of Rockwell Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research note 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.com, the stock has an average rating of “Hold” and an average price target of $20.00.

Rockwell Medical Trading Up 1.5%

Shares of NASDAQ RMTI opened at $6.63 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.74 and a quick ratio of 3.43. The stock has a market capitalization of $26.32 million, a P/E ratio of -4.42 and a beta of 1.61. Rockwell Medical has a 1-year low of $4.89 and a 1-year high of $21.00. The business has a fifty day moving average price of $6.57 and a 200 day moving average price of $8.54.

Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $17.34 million for the quarter, compared to the consensus estimate of $17.95 million. Equities research analysts expect that Rockwell Medical will post -0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Rockwell Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Corsair Capital Management L.P. acquired a new stake in Rockwell Medical in the first quarter worth about $45,000. XTX Topco Ltd increased its holdings in shares of Rockwell Medical by 286.5% during the fourth quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock valued at $52,000 after acquiring an additional 46,029 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Rockwell Medical in the 4th quarter valued at approximately $84,000. Geode Capital Management LLC raised its position 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 last quarter. Finally, Renaissance Technologies LLC boosted its stake in Rockwell Medical by 36.5% in the 1st quarter. Renaissance Technologies LLC now owns 639,120 shares of the company’s stock worth $571,000 after purchasing an additional 170,800 shares in the last quarter. 23.31% of the stock is currently owned by hedge funds and other institutional investors.

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.