HC Wainwright assumed coverage on shares of Rockwell Medical (NASDAQ:RMTI) in a research report sent to investors on Monday morning, Briefing.com Automated Import reports. The brokerage issued a buy rating and a $11.00 target price on the stock.
RMTI has been the subject of several other research reports. ValuEngine upgraded Rockwell Medical from a hold rating to a buy rating in a research note on Tuesday, March 19th. Ifs Securities upgraded Rockwell Medical from an outperform rating to a strong-buy rating in a research note on Monday, March 18th.
Shares of Rockwell Medical stock opened at $4.97 on Monday. The company has a quick ratio of 3.24, a current ratio of 2.56 and a debt-to-equity ratio of 0.07. The firm has a market cap of $286.10 million, a PE ratio of -10.57 and a beta of 2.00. Rockwell Medical has a 1 year low of $2.19 and a 1 year high of $6.88.
Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.03. The company had revenue of $15.56 million during the quarter, compared to the consensus estimate of $16.90 million. Rockwell Medical had a negative return on equity of 144.07% and a negative net margin of 55.09%. Equities analysts expect that Rockwell Medical will post -0.61 earnings per share for the current fiscal year.
In other news, insider David S. Richmond purchased 5,869 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was bought at an average price of $5.59 per share, for a total transaction of $32,807.71. Following the purchase, the insider now owns 177,930 shares of the company’s stock, valued at $994,628.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David S. Richmond purchased 4,643 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were purchased at an average price of $5.65 per share, with a total value of $26,232.95. Following the purchase, the insider now directly owns 178,436 shares in the company, valued at approximately $1,008,163.40. The disclosure for this purchase can be found here. 18.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. bought a new position in Rockwell Medical in the 4th quarter worth about $27,000. Quantamental Technologies LLC boosted its stake in Rockwell Medical by 194.3% in the 1st quarter. Quantamental Technologies LLC now owns 5,301 shares of the company’s stock worth $30,000 after purchasing an additional 3,500 shares during the period. Starfire Investment Advisers Inc. bought a new position in Rockwell Medical in the 4th quarter worth about $43,000. AdvisorNet Financial Inc bought a new position in Rockwell Medical in the 4th quarter worth about $51,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Rockwell Medical by 5,456.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,891 shares of the company’s stock worth $56,000 after purchasing an additional 9,713 shares during the period. Institutional investors own 18.81% of the company’s stock.
About Rockwell Medical
Rockwell Medical, Inc operates as a specialty pharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis. The company offers Triferic, an iron therapy that replaces iron and maintains hemoglobin in dialysis patients without increasing iron stores; and Calcitriol, an active vitamin D injection for the management of hypocalcemia in patients undergoing chronic hemodialysis.
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