Rockwell Medical (NASDAQ:RMTI) posted its earnings results on Friday. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.05, MarketWatch Earnings reports. The company had revenue of $16.67 million during the quarter, compared to the consensus estimate of $15.00 million. Rockwell Medical had a negative net margin of 55.38% and a negative return on equity of 89.63%.
NASDAQ RMTI traded up $0.79 on Friday, reaching $4.38. 485,859 shares of the company’s stock traded hands, compared to its average volume of 151,407. The company has a market capitalization of $198.54 million, a PE ratio of -8.59 and a beta of 1.42. Rockwell Medical has a fifty-two week low of $3.55 and a fifty-two week high of $6.98.
A number of research analysts recently issued reports on RMTI shares. ValuEngine upgraded shares of Rockwell Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Zacks Investment Research downgraded shares of Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Finally, Ifs Securities restated an “outperform” rating and set a $11.00 target price on shares of Rockwell Medical in a research report on Friday, October 19th.
A number of hedge funds and other institutional investors have recently bought and sold shares of RMTI. Schwab Charles Investment Management Inc. increased its holdings in Rockwell Medical by 13.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 108,942 shares of the company’s stock valued at $538,000 after buying an additional 13,042 shares in the last quarter. BlackRock Inc. increased its holdings in Rockwell Medical by 4.8% in the second quarter. BlackRock Inc. now owns 3,195,923 shares of the company’s stock valued at $15,756,000 after buying an additional 147,384 shares in the last quarter. Raymond James & Associates increased its holdings in Rockwell Medical by 59.0% in the second quarter. Raymond James & Associates now owns 128,276 shares of the company’s stock valued at $632,000 after buying an additional 47,600 shares in the last quarter. Finally, Sigma Investment Counselors Inc. increased its holdings in Rockwell Medical by 24.3% in the third quarter. Sigma Investment Counselors Inc. now owns 86,834 shares of the company’s stock valued at $366,000 after buying an additional 17,000 shares in the last quarter. Institutional investors own 22.15% of the company’s stock.
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Rockwell Medical Company Profile
Rockwell Medical, Inc operates as an integrated biopharmaceutical company targeting end-stage renal and chronic kidney diseases in the United States and internationally. The company's lead drug includes Triferic, an iron maintenance therapy that replaces the iron lost by patients during hemodialysis treatment.
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