Rockwell Medical Inc. (RMTI) Stock Price Up 2%
Shares of Rockwell Medical Inc. (NASDAQ:RMTI) rose 2% during trading on Thursday . The company traded as high as $7.87 and last traded at $7.71, with a volume of 105,805 shares trading hands. The stock had previously closed at $7.56.
RMTI has been the subject of a number of research analyst reports. TheStreet lowered Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, March 15th. Morgan Stanley reaffirmed a “sell” rating on shares of Rockwell Medical in a research report on Wednesday, April 6th. Finally, Zacks Investment Research raised Rockwell Medical from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 5th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Rockwell Medical has an average rating of “Hold” and a consensus price target of $10.17.
The company’s market capitalization is $415.30 million. The stock’s 50-day moving average price is $8.55 and its 200-day moving average price is $7.94.
Rockwell Medical (NASDAQ:RMTI) last posted its earnings results on Tuesday, May 10th. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ 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 prior year, the company posted ($0.07) EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts expect 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 raised its position in shares of Rockwell Medical Inc. (NASDAQ:RMTI) by 5.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 161,682 shares of the company’s stock after buying an additional 8,577 shares during the period. Wells Fargo & Company MN owned about 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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