Rockwell Medical (NASDAQ:RMTI) Stock Gets Downgrade from Zacks Research

Rockwell Medical (NASDAQ:RMTI) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday, Zacks reports.

Several other equities analysts also recently commented on RMTI. Wall Street Zen upgraded shares of Rockwell Medical to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings upgraded shares of Rockwell Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, October 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Rockwell Medical in a research note on Friday, September 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rockwell Medical presently has a consensus rating of “Reduce” and an average price target of $20.00.

Rockwell Medical Stock Performance

RMTI opened at $7.98 on Wednesday. The business has a fifty day simple moving average of $7.97 and a 200 day simple moving average of $7.63. The company has a market capitalization of $32.16 million, a PE ratio of -5.96 and a beta of 1.63. Rockwell Medical has a 1 year low of $4.89 and a 1 year high of $12.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.25 and a quick ratio of 3.00.

Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). The firm had revenue of $17.78 million during the quarter, compared to analyst estimates of $17.82 million. Rockwell Medical had a negative net margin of 7.33% and a negative return on equity of 14.03%. Research analysts expect that Rockwell Medical will post -0.90 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Rockwell Medical stock. Renaissance Technologies LLC increased its stake in shares of Rockwell Medical, Inc. (NASDAQ:RMTI) by 36.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 639,120 shares of the company’s stock after purchasing an additional 170,800 shares during the quarter. Renaissance Technologies LLC owned approximately 1.62% of Rockwell Medical worth $571,000 at the end of the most recent reporting period. 23.31% of the stock is owned by hedge funds and other institutional investors.

Rockwell Medical Company Profile

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.