Rockwell Medical Inc (NASDAQ:RMTI)’s share price rose 5.2% during mid-day trading on Friday . The company traded as high as $2.27 and last traded at $2.24, approximately 677,800 shares traded hands during mid-day trading. An increase of 96% from the average daily volume of 345,073 shares. The stock had previously closed at $2.13.
RMTI has been the topic of a number of research reports. Piper Jaffray Companies lowered their price objective on Rockwell Medical from $10.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Zacks Investment Research cut Rockwell Medical from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. HC Wainwright restated a “buy” rating and issued a $11.00 price objective on shares of Rockwell Medical in a research note on Monday, October 28th. Finally, ValuEngine upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Rockwell Medical presently has an average rating of “Buy” and a consensus target price of $9.33.
The stock has a 50 day moving average of $2.29 and a 200-day moving average of $3.10. The firm has a market capitalization of $132.39 million, a P/E ratio of -4.77 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.98 and a current ratio of 3.27.
Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. Rockwell Medical had a negative return on equity of 139.38% and a negative net margin of 57.77%. The business had revenue of $15.41 million for the quarter, compared to analysts’ expectations of $15.40 million. As a group, sell-side analysts expect that Rockwell Medical Inc will post -0.57 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Gabelli Funds LLC grew its holdings in Rockwell Medical by 31.0% during the 3rd quarter. Gabelli Funds LLC now owns 21,121 shares of the company’s stock valued at $58,000 after buying an additional 5,000 shares in the last quarter. Dillon & Associates Inc. purchased a new position in Rockwell Medical during the 3rd quarter valued at about $34,000. Jag Capital Management LLC grew its holdings in Rockwell Medical by 19.4% during the 3rd quarter. Jag Capital Management LLC now owns 30,750 shares of the company’s stock valued at $85,000 after buying an additional 5,000 shares in the last quarter. Luminus Management LLC purchased a new position in Rockwell Medical during the 2nd quarter valued at about $1,273,000. Finally, Perceptive Advisors LLC purchased a new position in Rockwell Medical during the 2nd quarter valued at about $4,515,000. Institutional investors and hedge funds own 24.81% of the company’s stock.
About Rockwell Medical (NASDAQ:RMTI)
Rockwell Medical, Inc operates as a specialty pharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis. The company offers Triferic, an iron therapy that replaces iron and maintains hemoglobin in dialysis patients without increasing iron stores; and Calcitriol, an active vitamin D injection for the management of hypocalcemia in patients undergoing chronic hemodialysis.
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