Rockwell Medical Inc. (RMTI) Trading 2.3% Higher
Shares of Rockwell Medical Inc. (NASDAQ:RMTI) traded up 2.3% during trading on Friday . The stock traded as high as $7.19 and last traded at $7.14, with a volume of 221,707 shares traded. The stock had previously closed at $6.98.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a research report on Friday, May 13th. BTIG Research assumed coverage on shares of Rockwell Medical in a research report on Friday, August 19th. They issued a “buy” rating and a $12.00 price objective on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.00.
The stock’s 50 day moving average is $7.65 and its 200-day moving average is $7.85. The firm’s market cap is $367.90 million.
Rockwell Medical (NASDAQ:RMTI) last released its earnings results on Monday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.01. During the same quarter in the previous year, the company earned ($0.05) earnings per share. The firm had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $13.86 million. Rockwell Medical’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities research analysts expect that Rockwell Medical Inc. will post ($0.36) EPS for the current year.
In other news, Director Kenneth L. Holt sold 3,692 shares of the company’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 sale, the director now directly owns 63,475 shares of the company’s stock, valued at approximately $464,002.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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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