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

Rockwell Medical (NASDAQ:RMTI) was upgraded by analysts at Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday.

RMTI has been the subject of several other reports. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target (up from $2.00) on shares of Rockwell Medical in a research note 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 investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Rockwell Medical presently has an average rating of “Hold” and a consensus target price of $20.00.

Rockwell Medical Price Performance

Shares of RMTI stock opened at $6.63 on Friday. The stock has a market cap of $26.32 million, a price-to-earnings ratio of -4.42 and a beta of 1.61. The business’s fifty day moving average is $6.57 and its 200 day moving average is $8.54. Rockwell Medical has a twelve month low of $4.89 and a twelve month high of $21.00. The company has a quick ratio of 3.43, a current ratio of 3.74 and a debt-to-equity ratio of 0.23.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.30). The firm had revenue of $17.34 million for the quarter, compared to analysts’ expectations of $17.95 million. Rockwell Medical had a negative net margin of 7.98% and a negative return on equity of 15.41%. Research analysts expect that Rockwell Medical will post -0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Rockwell Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Corsair Capital Management L.P. bought a new position in Rockwell Medical in the 1st quarter valued at approximately $45,000. XTX Topco Ltd increased its holdings in shares of Rockwell Medical by 286.5% in the 4th quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock worth $52,000 after purchasing an additional 46,029 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Rockwell Medical in the fourth quarter worth $84,000. Geode Capital Management LLC raised its stake in shares of Rockwell Medical by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock worth $304,000 after purchasing an additional 41,668 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Rockwell Medical by 36.5% during the first quarter. Renaissance Technologies LLC now owns 639,120 shares of the company’s stock valued at $571,000 after purchasing an additional 170,800 shares in the last quarter. 23.31% of the stock is owned by institutional investors.

About Rockwell Medical

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.