Rockwell Medical Inc. (RMTI) Trading Up 2.3%
Rockwell Medical Inc. (NASDAQ:RMTI) was up 2.3% during mid-day trading on Friday . The company traded as high as $7.19 and last traded at $7.14, with a volume of 221,707 shares changing hands. The stock had previously closed at $6.98.
A number of equities research analysts have recently issued reports on RMTI shares. Zacks Investment Research raised shares of Rockwell Medical from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 5th. BTIG Research started coverage on shares of Rockwell Medical in a research note on Friday, August 19th. They issued a “buy” rating and a $12.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $11.00.
The company’s market capitalization is $367.90 million. The company has a 50-day moving average of $7.63 and a 200 day moving average of $7.86.
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 the consensus estimate of ($0.10) by $0.01. The firm had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $13.86 million. During the same quarter in the prior year, the firm posted ($0.05) EPS. Rockwell Medical’s revenue was down 3.5% on a year-over-year basis. Equities research analysts predict that Rockwell Medical Inc. will post ($0.36) earnings per share for the current fiscal year.
In other news, Director Kenneth L. Holt sold 9,520 shares of Rockwell Medical stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $6.37, for a total transaction of $60,642.40. Following the sale, the director now owns 56,048 shares in the company, valued at $357,025.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kenneth L. Holt sold 3,692 shares of Rockwell Medical stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $7.31, for a total transaction of $26,988.52. Following the sale, the director now owns 63,475 shares in the company, valued at approximately $464,002.25. The disclosure for this sale can be found here.
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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