Rockwell Medical Inc. (RMTI) Shares Up 2%
Rockwell Medical Inc. (NASDAQ:RMTI) shares shot up 2% on Thursday . The stock traded as high as $7.87 and last traded at $7.71, with a volume of 105,805 shares. The stock had previously closed at $7.56.
Several research firms have weighed in on RMTI. Morgan Stanley reiterated a “sell” rating on shares of Rockwell Medical in a report on Wednesday, April 6th. Zacks Investment Research upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a report on Friday, May 13th. Finally, TheStreet lowered Rockwell Medical from a “hold” rating to a “sell” rating in a report on Tuesday, March 15th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Rockwell Medical presently has a consensus rating of “Hold” and an average target price of $10.17.
The stock’s market cap is $401.90 million. The stock’s 50 day moving average is $8.59 and its 200-day moving average is $7.96.
Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by $0.02. The firm had revenue of $13.63 million for the quarter, compared to the consensus estimate of $15.25 million. During the same period in the previous year, the business earned ($0.07) EPS. The business’s quarterly revenue was down 1.8% on a year-over-year basis. On average, analysts forecast that Rockwell Medical Inc. will post ($0.27) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Rockwell Medical stock. Wells Fargo & Company MN increased its position in shares of Rockwell Medical Inc. (NASDAQ:RMTI) by 5.6% during the fourth quarter, Holdings Channel reports. The fund owned 161,682 shares of the company’s stock after buying an additional 8,577 shares during the period. Wells Fargo & Company MN owned 0.32% of Rockwell Medical worth $1,655,000 as of its most recent SEC filing.
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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