Wall Street Zen Upgrades Rockwell Medical (NASDAQ:RMTI) to “Hold”

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

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

Rockwell Medical Stock Performance

Shares of RMTI stock opened at $6.63 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.43 and a current ratio of 3.74. Rockwell Medical has a fifty-two week low of $4.89 and a fifty-two week high of $21.00. The stock has a 50 day moving average price of $6.57 and a two-hundred day moving average price of $8.54. The company has a market capitalization of $26.32 million, a P/E ratio of -4.42 and a beta of 1.61.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Corsair Capital Management L.P. purchased a new stake in shares of Rockwell Medical in the 1st quarter worth about $45,000. XTX Topco Ltd increased its position in shares of Rockwell Medical by 286.5% during the fourth quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock valued at $52,000 after buying an additional 46,029 shares during the period. Jane Street Group LLC purchased a new position in shares of Rockwell Medical during the fourth quarter valued at about $84,000. Geode Capital Management LLC raised its stake in Rockwell Medical by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock worth $304,000 after buying an additional 41,668 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Rockwell Medical by 36.5% in the first quarter. Renaissance Technologies LLC now owns 639,120 shares of the company’s stock worth $571,000 after buying an additional 170,800 shares in the last quarter. 23.31% of the stock is currently owned by institutional investors.

Rockwell Medical Company Profile

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.