Rockwell Medical Inc. (RMTI) Shares Down 1.1%
Shares of Rockwell Medical Inc. (NASDAQ:RMTI) dropped 1.1% on Friday . The company traded as low as $7.02 and last traded at $7.14, with a volume of 162,674 shares. The stock had previously closed at $7.22.
RMTI has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. BTIG Research initiated coverage on shares of Rockwell Medical in a research report on Friday, August 19th. They issued a “buy” rating and a $12.00 target price for the company. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $11.00.
The firm’s 50-day moving average is $7.52 and its 200-day moving average is $7.88. The firm’s market capitalization is $371.50 million.
Rockwell Medical (NASDAQ:RMTI) last posted its quarterly 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 prior year, the company earned ($0.05) EPS. The business had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $13.86 million. Rockwell Medical’s quarterly revenue was down 3.5% on a year-over-year basis. Equities research analysts expect that Rockwell Medical Inc. will post ($0.37) earnings per share for the current year.
In other Rockwell Medical news, Director Kenneth L. Holt sold 9,520 shares of Rockwell Medical stock in a transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth L. Holt sold 3,692 shares of Rockwell Medical stock in a transaction on Tuesday, August 16th. The stock was 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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