Rockwell Medical (NASDAQ:RMTI) Stock Rating Lowered by Zacks Research

Rockwell Medical (NASDAQ:RMTI) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, Zacks reports.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Rockwell Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, October 8th. Wall Street Zen raised Rockwell Medical to a “hold” rating in a report on Saturday, July 25th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Rockwell Medical in a research report on Friday, September 11th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $20.00.

Rockwell Medical Price Performance

Shares of NASDAQ RMTI opened at $7.98 on Wednesday. Rockwell Medical has a 1-year low of $4.89 and a 1-year high of $12.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.25 and a quick ratio of 3.00. The business’s fifty day moving average price is $7.97 and its two-hundred day moving average price is $7.63. The firm has a market capitalization of $32.16 million, a PE ratio of -5.96 and a beta of 1.63.

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

Institutional Trading of Rockwell Medical

A hedge fund recently bought a new stake in Rockwell Medical stock. Corsair Capital Management L.P. bought a new position in shares of Rockwell Medical, Inc. (NASDAQ:RMTI) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,000 shares of the company’s stock, valued at approximately $45,000. Corsair Capital Management L.P. owned approximately 0.13% of Rockwell Medical at the end of the most recent reporting period. 23.31% of the stock is currently owned by institutional investors.

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.