Rockwell Medical (NASDAQ:RMTI) Trading Up 0.4%

Rockwell Medical Inc (NASDAQ:RMTI)’s share price was up 0.4% during trading on Thursday . The stock traded as high as $3.05 and last traded at $2.80, approximately 29,239 shares changed hands during mid-day trading. A decline of 90% from the average daily volume of 293,880 shares. The stock had previously closed at $2.79.

Several equities research analysts have issued reports on the company. Piper Jaffray Companies dropped their target price on Rockwell Medical from $10.00 to $6.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of Rockwell Medical in a research report on Monday, December 2nd. Finally, Zacks Investment Research downgraded Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $9.33.

The stock has a market cap of $148.38 million, a P/E ratio of -5.81 and a beta of 1.49. The firm’s fifty day moving average price is $2.32 and its two-hundred day moving average price is $2.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.27 and a quick ratio of 2.98.

Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings results on Monday, November 11th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.02. The firm had revenue of $15.41 million for the quarter, compared to analysts’ expectations of $15.40 million. Rockwell Medical had a negative net margin of 57.77% and a negative return on equity of 139.38%. On average, research analysts expect that Rockwell Medical Inc will post -0.57 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in RMTI. Marshall Wace LLP bought a new position in Rockwell Medical in the first quarter valued at $57,000. Dillon & Associates Inc. bought a new position in Rockwell Medical in the third quarter valued at $34,000. Royal Bank of Canada increased its stake in Rockwell Medical by 61.7% in the second quarter. Royal Bank of Canada now owns 12,125 shares of the company’s stock valued at $37,000 after acquiring an additional 4,625 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new position in Rockwell Medical in the first quarter valued at $106,000. Finally, Gabelli Funds LLC increased its stake in Rockwell Medical by 31.0% in the third quarter. Gabelli Funds LLC now owns 21,121 shares of the company’s stock valued at $58,000 after acquiring an additional 5,000 shares during the last quarter. 21.20% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Medical Company Profile (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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