Rockwell Medical’s (RMTI) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Rockwell Medical (NASDAQ:RMTI) in a research report sent to investors on Tuesday morning, AnalystRatings.com reports. HC Wainwright currently has a $11.00 price objective on the stock.

Several other brokerages have also issued reports on RMTI. Piper Jaffray Companies dropped their target price on shares of Rockwell Medical from $10.00 to $6.00 and set an overweight rating on the stock in a research report on Monday, November 11th. Zacks Investment Research lowered shares of Rockwell Medical from a hold rating to a sell rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $9.33.

Shares of NASDAQ RMTI traded down $0.05 during trading on Tuesday, hitting $2.52. The company had a trading volume of 5,974 shares, compared to its average volume of 393,585. The stock has a fifty day simple moving average of $2.38 and a two-hundred day simple moving average of $2.52. Rockwell Medical has a fifty-two week low of $1.81 and a fifty-two week high of $6.88. The firm has a market capitalization of $166.30 million, a price-to-earnings ratio of -4.09 and a beta of 1.49. The company has a quick ratio of 2.98, a current ratio of 3.27 and a debt-to-equity ratio of 0.07.

Rockwell Medical (NASDAQ:RMTI) last announced its earnings results on Monday, November 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. Rockwell Medical had a negative net margin of 57.77% and a negative return on equity of 139.38%. The business had revenue of $15.41 million for the quarter, compared to analyst estimates of $15.40 million. On average, analysts anticipate that Rockwell Medical will post -0.57 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in shares of Rockwell Medical in the first quarter worth about $57,000. Dillon & Associates Inc. purchased a new position in shares of Rockwell Medical in the third quarter worth about $34,000. Royal Bank of Canada lifted its stake in shares of Rockwell Medical by 61.7% in the second quarter. Royal Bank of Canada now owns 12,125 shares of the company’s stock worth $37,000 after buying an additional 4,625 shares in the last quarter. Metropolitan Life Insurance Co NY purchased a new position in shares of Rockwell Medical in the first quarter worth about $106,000. Finally, Gabelli Funds LLC lifted its stake in shares of Rockwell Medical by 31.0% in the third quarter. Gabelli Funds LLC now owns 21,121 shares of the company’s stock worth $58,000 after buying an additional 5,000 shares in the last quarter. 21.32% of the stock is currently owned by hedge funds and other institutional investors.

About Rockwell Medical

Rockwell Medical, Inc operates as a specialty pharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis. The company offers Triferic, an iron therapy that replaces iron and maintains hemoglobin in dialysis patients without increasing iron stores; and Calcitriol, an active vitamin D injection for the management of hypocalcemia in patients undergoing chronic hemodialysis.

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