Rockwell Medical Inc. (NASDAQ:RMTI) dropped 2.2% during trading on Thursday . The company traded as low as $7.80 and last traded at $7.86, with a volume of 178,362 shares. The stock had previously closed at $8.04.

RMTI has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Rockwell Medical from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 5th. Morgan Stanley reiterated a “sell” rating on shares of Rockwell Medical in a research note on Wednesday, April 6th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $10.17.

The stock’s market capitalization is $401.39 million. The firm has a 50 day moving average price of $8.38 and a 200-day moving average price of $7.89.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by $0.02. The firm earned $13.63 million during the quarter, compared to analysts’ expectations of $15.25 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. 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. Oppenheimer & Co. Inc. increased its stake in Rockwell Medical Inc. (NASDAQ:RMTI) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,997 shares of the company’s stock after buying an additional 5,810 shares during the period. Oppenheimer & Co. Inc. owned 0.19% of Rockwell Medical worth $1,014,000 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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