Rockwell Medical (NASDAQ:RMTI) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Friday.
Separately, Zacks Investment Research raised Rockwell Medical from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a research note on Wednesday, October 25th.
Shares of Rockwell Medical (RMTI) opened at $6.48 on Friday. Rockwell Medical has a 12 month low of $5.06 and a 12 month high of $8.98.
Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Wednesday, November 8th. The company reported ($0.10) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). The business had revenue of $14.63 million during the quarter, compared to analysts’ expectations of $13.33 million. Rockwell Medical had a negative return on equity of 46.63% and a negative net margin of 39.28%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) EPS. analysts forecast that Rockwell Medical will post -0.44 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Rockwell Medical in the 3rd quarter valued at approximately $107,000. PNC Financial Services Group Inc. grew its stake in shares of Rockwell Medical by 1,725.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 15,245 shares of the company’s stock valued at $121,000 after buying an additional 14,410 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in Rockwell Medical by 38.3% during the second quarter. UBS Asset Management Americas Inc. now owns 19,843 shares of the company’s stock worth $157,000 after purchasing an additional 5,500 shares during the period. Private Advisor Group LLC bought a new stake in Rockwell Medical during the second quarter worth approximately $182,000. Finally, Cutter & CO Brokerage Inc. boosted its position in Rockwell Medical by 6.3% during the second quarter. Cutter & CO Brokerage Inc. now owns 25,325 shares of the company’s stock worth $201,000 after purchasing an additional 1,500 shares during the period. 21.30% of the stock is owned by institutional investors and hedge funds.
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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