Rockwell Medical’s (RMTI) “Buy” Rating Reiterated at HC Wainwright

Rockwell Medical (NASDAQ:RMTI)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They currently have a $20.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 148.76% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings upgraded Rockwell Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 3rd. Wall Street Zen upgraded shares of Rockwell Medical to a “hold” rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rockwell Medical presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Rockwell Medical Stock Performance

Shares of NASDAQ RMTI opened at $8.04 on Friday. The company has a quick ratio of 3.00, a current ratio of 3.25 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $7.08 and its two-hundred day moving average price is $7.85. Rockwell Medical has a 52-week low of $4.89 and a 52-week high of $17.20. The stock has a market capitalization of $32.40 million, a P/E ratio of -6.00 and a beta of 1.64.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.10). Rockwell Medical had a negative return on equity of 14.03% and a negative net margin of 7.33%.The company had revenue of $17.78 million during the quarter, compared to the consensus estimate of $17.82 million. As a group, sell-side analysts forecast that Rockwell Medical will post -0.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Rockwell Medical by 12.3% during the third quarter. Vanguard Group Inc. now owns 1,354,147 shares of the company’s stock valued at $1,625,000 after purchasing an additional 148,737 shares during the period. Renaissance Technologies LLC lifted its holdings in Rockwell Medical by 36.5% in the first quarter. Renaissance Technologies LLC now owns 639,120 shares of the company’s stock worth $571,000 after purchasing an additional 170,800 shares during the period. Geode Capital Management LLC lifted its holdings in Rockwell Medical by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock worth $304,000 after purchasing an additional 41,668 shares during the period. Jane Street Group LLC bought a new position in Rockwell Medical in the 4th quarter valued at about $84,000. Finally, XTX Topco Ltd grew its position in Rockwell Medical by 286.5% in the 4th quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock valued at $52,000 after buying an additional 46,029 shares in the last quarter. Institutional investors and hedge funds own 23.31% of the company’s stock.

Rockwell Medical Company Profile

Rockwell Medical, Inc is a Delaware‐domiciled biopharmaceutical company focused on the development and commercialization of therapies for patients with chronic kidney disease (CKD). The company’s mission centers on addressing common complications in CKD—namely iron deficiency and secondary hyperparathyroidism—through innovative treatment approaches designed for dialysis settings.

The company’s lead product, TRIFERIC®, is an iron replacement therapy approved by the U.S. Food and Drug Administration for use in hemodialysis patients.