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

RMTI has been the subject of several research analyst reports. Zacks Investment Research upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a report on Friday, May 13th. Morgan Stanley restated a “sell” rating on shares of Rockwell Medical in a report on Wednesday, April 6th. Three investment 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. The stock currently has an average rating of “Hold” and a consensus target price of $10.17.

The company’s 50 day moving average is $8.34 and its 200 day moving average is $7.87. The company’s market capitalization is $398.30 million.

Rockwell Medical (NASDAQ:RMTI) last posted its earnings results on Tuesday, May 10th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. During the same period in the previous year, the business earned ($0.07) EPS. The company earned $13.63 million during the quarter, compared to analyst estimates of $15.25 million. Rockwell Medical’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, analysts anticipate that Rockwell Medical Inc. will post ($0.27) EPS for the current year.

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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