Rockwell Medical Inc. (RMTI) Receives Buy Rating from BTIG Research
Rockwell Medical Inc. (NASDAQ:RMTI)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a report released on Thursday.
Separately, Zacks Investment Research upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $11.00.
Shares of Rockwell Medical (NASDAQ:RMTI) traded up 5.9527% on Thursday, reaching $6.9399. The company had a trading volume of 499,870 shares. The firm’s market capitalization is $357.59 million. Rockwell Medical has a 52 week low of $5.47 and a 52 week high of $13.50. The stock’s 50 day moving average is $7.18 and its 200 day moving average is $7.79.
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Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.01. Rockwell Medical had a negative return on equity of 28.90% and a negative net margin of 33.04%. The business earned $12.50 million during the quarter, compared to analysts’ expectations of $13.86 million. During the same quarter in the previous year, the company posted ($0.05) EPS. The company’s quarterly revenue was down 3.5% on a year-over-year basis. On average, equities analysts anticipate that Rockwell Medical will post ($0.37) EPS for the current year.
In related news, Director Kenneth L. Holt sold 8,075 shares of the stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $6.81, for a total value of $54,990.75. Following the completion of the transaction, the director now owns 46,858 shares of the company’s stock, valued at approximately $319,102.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth L. Holt sold 9,520 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $6.37, for a total transaction of $60,642.40. Following the completion of the transaction, the director now directly owns 56,048 shares of the company’s stock, valued at approximately $357,025.76. The disclosure for this sale can be found here. Insiders own 15.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Starfire Investment Advisers Inc. acquired a new position in shares of Rockwell Medical during the second quarter worth approximately $100,000. WealthTrust Axiom LLC acquired a new position in shares of Rockwell Medical during the second quarter worth approximately $100,000. Paloma Partners Management Co acquired a new position in shares of Rockwell Medical during the second quarter worth approximately $125,000. Rehmann Capital Advisory Group increased its position in shares of Rockwell Medical by 3.6% in the first quarter. Rehmann Capital Advisory Group now owns 17,286 shares of the company’s stock worth $130,000 after buying an additional 600 shares during the last quarter. Finally, InterOcean Capital LLC increased 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 worth $145,000 after buying an additional 550 shares during the last quarter. 21.72% of the stock is owned by hedge funds and other institutional investors.
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.
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