Rockwell Medical, Inc. (RMTI) Shares Up 9.6%

Shares of Rockwell Medical, Inc. (NASDAQ:RMTI) shot up 9.6% on Friday . The company traded as high as $6.79 and last traded at $6.74. 514,866 shares were traded during mid-day trading, an increase of 112% from the average session volume of 242,846 shares. The stock had previously closed at $6.15.

A number of analysts recently issued reports on the stock. Zacks Investment Research raised shares of Rockwell Medical from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a report on Wednesday, October 25th. BidaskClub downgraded shares of Rockwell Medical from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, Ifs Securities assumed coverage on shares of Rockwell Medical in a report on Monday, August 14th. They set a “strong-buy” rating and a $11.00 price target on the stock.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Wednesday, November 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.10). Rockwell Medical had a negative net margin of 39.28% and a negative return on equity of 46.63%. The firm had revenue of $14.63 million for the quarter, compared to the consensus estimate of $13.33 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. analysts anticipate that Rockwell Medical, Inc. will post -0.44 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC boosted its holdings in Rockwell Medical by 1.5% during the second quarter. Teachers Advisors LLC now owns 88,772 shares of the company’s stock worth $704,000 after buying an additional 1,335 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Rockwell Medical by 1.1% during the second quarter. TIAA CREF Investment Management LLC now owns 132,131 shares of the company’s stock valued at $1,048,000 after purchasing an additional 1,401 shares in the last quarter. Cutter & CO Brokerage Inc. lifted its holdings in Rockwell Medical by 6.3% during the second quarter. Cutter & CO Brokerage Inc. now owns 25,325 shares of the company’s stock valued at $201,000 after purchasing an additional 1,500 shares in the last quarter. American International Group Inc. lifted its holdings in Rockwell Medical by 7.1% during the first quarter. American International Group Inc. now owns 29,509 shares of the company’s stock valued at $185,000 after purchasing an additional 1,955 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Rockwell Medical by 11.9% during the second quarter. Voya Investment Management LLC now owns 27,232 shares of the company’s stock valued at $216,000 after purchasing an additional 2,895 shares in the last quarter. 21.72% of the stock is currently owned by hedge funds and other institutional investors.

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Rockwell Medical Company Profile

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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