Rockwell Medical (NASDAQ:RMTI) Stock Rating Upgraded by Wall Street Zen

Rockwell Medical (NASDAQ:RMTI) was upgraded by Wall Street Zen to a “hold” rating in a report issued on Saturday.

Several other research analysts also recently weighed in on RMTI. HC Wainwright reissued a “buy” rating and issued a $20.00 target price (up from $2.00) on shares of Rockwell Medical in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of Rockwell Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Rockwell Medical Stock Performance

Shares of NASDAQ RMTI opened at $6.63 on Friday. Rockwell Medical has a 12 month low of $4.89 and a 12 month high of $21.00. The company has a market cap of $26.32 million, a price-to-earnings ratio of -4.42 and a beta of 1.61. The company has a quick ratio of 3.43, a current ratio of 3.74 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $6.57 and a 200-day simple moving average of $8.53.

Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.30). The company had revenue of $17.34 million during the quarter, compared to analyst estimates of $17.95 million. Rockwell Medical had a negative net margin of 7.98% and a negative return on equity of 15.41%. Sell-side analysts predict that Rockwell Medical will post -0.76 EPS for the current year.

Institutional Trading of Rockwell Medical

Institutional investors have recently made changes to their positions in the stock. Corsair Capital Management L.P. purchased a new stake in Rockwell Medical in the 1st quarter worth approximately $45,000. XTX Topco Ltd grew its stake in Rockwell Medical by 286.5% in the fourth quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock valued at $52,000 after purchasing an additional 46,029 shares in the last quarter. Jane Street Group LLC bought a new stake in Rockwell Medical in the fourth quarter worth $84,000. Geode Capital Management LLC grew its holdings in Rockwell Medical by 12.9% during the fourth quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock valued at $304,000 after purchasing an additional 41,668 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Rockwell Medical by 36.5% in the 1st quarter. Renaissance Technologies LLC now owns 639,120 shares of the company’s stock valued at $571,000 after buying an additional 170,800 shares during the last quarter. 23.31% of the stock is currently owned by institutional investors and hedge funds.

About Rockwell Medical

Rockwell Medical, Inc is a Delaware‐domiciled biopharmaceutical company focused on the development and commercialization of therapies for patients with chronic kidney disease (CKD). The company’s mission centers on addressing common complications in CKD—namely iron deficiency and secondary hyperparathyroidism—through innovative treatment approaches designed for dialysis settings.

The company’s lead product, TRIFERIC®, is an iron replacement therapy approved by the U.S. Food and Drug Administration for use in hemodialysis patients.