Rockwell Medical Inc. (NASDAQ:RMTI)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a report issued on Thursday. They currently have a $12.00 target price on the stock. BTIG Research’s target price indicates a potential upside of 81.54% from the stock’s current price.
Separately, Zacks Investment Research lowered Rockwell Medical from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $11.00.
Rockwell Medical (NASDAQ:RMTI) opened at 6.61 on Thursday. Rockwell Medical has a 12-month low of $5.47 and a 12-month high of $13.50. The company’s market cap is $340.59 million. The firm’s 50-day moving average price is $7.12 and its 200-day moving average price is $7.78.
Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $12.50 million for the quarter, compared to analyst estimates of $13.86 million. Rockwell Medical had a negative net margin of 33.04% and a negative return on equity of 28.90%. Rockwell Medical’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) EPS. Analysts expect that Rockwell Medical will post ($0.37) EPS for the current year.
In related news, Director Kenneth L. Holt sold 9,520 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $6.37, for a total transaction of $60,642.40. Following the transaction, the director now directly owns 56,048 shares in the company, valued at $357,025.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth L. Holt sold 3,692 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $7.31, for a total value of $26,988.52. Following the transaction, the director now owns 63,475 shares in the company, valued at $464,002.25. The disclosure for this sale can be found here. Corporate insiders own 15.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Starfire Investment Advisers Inc. bought a new stake in Rockwell Medical during the second quarter worth $100,000. WealthTrust Axiom LLC bought a new stake in Rockwell Medical during the second quarter worth $100,000. Paloma Partners Management Co bought a new stake in Rockwell Medical during the second quarter worth $125,000. Rehmann Capital Advisory Group increased its stake in 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 stake in 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. Hedge funds and other institutional investors own 21.72% of the company’s stock.
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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