Rockwell Medical (NASDAQ:RMTI) Stock Rating Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Rockwell Medical (NASDAQ:RMTI) from a hold rating to a strong sell rating in a research report released on Wednesday,Zacks reports.

A number of other research firms have also recently commented on RMTI. Weiss Ratings raised shares of Rockwell Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, October 8th. Wall Street Zen upgraded Rockwell Medical to a “hold” rating in a research note on Saturday, July 25th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Rockwell Medical in a report on Friday, September 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $20.00.

Rockwell Medical Stock Performance

Shares of RMTI stock opened at $7.98 on Wednesday. The firm has a market cap of $32.16 million, a price-to-earnings ratio of -5.96 and a beta of 1.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.00 and a current ratio of 3.25. Rockwell Medical has a 52 week low of $4.89 and a 52 week high of $12.90. The firm’s 50-day simple moving average is $7.97 and its two-hundred day simple moving average is $7.63.

Rockwell Medical (NASDAQ:RMTI) last released its earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). Rockwell Medical had a negative net margin of 7.33% and a negative return on equity of 14.03%. The company had revenue of $17.78 million during the quarter, compared to analysts’ expectations of $17.82 million. As a group, equities analysts forecast that Rockwell Medical will post -0.90 earnings per share for the current year.

Institutional Investors Weigh In On Rockwell Medical

An institutional investor recently bought a new stake in Rockwell Medical stock. Corsair Capital Management L.P. purchased a new stake in Rockwell Medical, Inc. (NASDAQ:RMTI) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 50,000 shares of the company’s stock, valued at approximately $45,000. Corsair Capital Management L.P. owned 0.13% of Rockwell Medical as of its most recent SEC filing. Institutional investors and hedge funds own 23.31% of the company’s stock.

Rockwell Medical Company Profile

Rockwell Medical, Inc is a biopharmaceutical company focused on developing and commercializing products for the treatment of iron deficiency and anemia associated with chronic kidney disease, particularly in patients receiving hemodialysis. The company’s products are designed to support iron management while addressing the needs of dialysis providers and their patients.

Rockwell Medical’s principal products include Triferic, an iron replacement therapy delivered through the dialysate during hemodialysis, and Triferic AVNU, an intravenous formulation.