Rockwell Medical (NASDAQ:RMTI) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Rockwell Medical (NASDAQ:RMTI) in a research note issued to investors on Wednesday, Benzinga reports. HC Wainwright currently has a $9.00 price objective on the stock.

Separately, StockNews.com raised shares of Rockwell Medical from a sell rating to a hold rating in a research report on Wednesday, June 19th.

Rockwell Medical Stock Down 2.0 %

RMTI stock opened at $2.98 on Wednesday. The stock has a market capitalization of $92.47 million, a price-to-earnings ratio of -8.36 and a beta of 1.46. The company has a 50-day moving average of $2.26 and a two-hundred day moving average of $1.85. Rockwell Medical has a 52-week low of $1.16 and a 52-week high of $3.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.00 and a quick ratio of 1.60.

Rockwell Medical (NASDAQ:RMTI) last announced its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The firm had revenue of $25.83 million during the quarter, compared to the consensus estimate of $23.01 million. Rockwell Medical had a negative return on equity of 6.96% and a negative net margin of 5.06%. During the same quarter in the prior year, the company earned ($0.18) EPS. As a group, equities research analysts anticipate that Rockwell Medical will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Rockwell Medical

Institutional investors have recently added to or reduced their stakes in the company. Armistice Capital LLC lifted its position in shares of Rockwell Medical by 22.5% in the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock worth $5,670,000 after acquiring an additional 592,000 shares during the period. Renaissance Technologies LLC raised its stake in shares of Rockwell Medical by 877.1% in the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after purchasing an additional 92,189 shares in the last quarter. Vanguard Group Inc. lifted its position in Rockwell Medical by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock worth $1,856,000 after purchasing an additional 43,302 shares during the period. Finally, SkyOak Wealth LLC boosted its stake in Rockwell Medical by 47.3% during the first quarter. SkyOak Wealth LLC now owns 25,110 shares of the company’s stock worth $42,000 after buying an additional 8,065 shares in the last quarter. 23.31% of the stock is owned by institutional investors and hedge funds.

About Rockwell Medical

Rockwell Medical, Inc, together with its subsidiaries, operates as a healthcare company that engages in the development, manufacture, commercialization, and distribution of various hemodialysis products for dialysis providers worldwide. The company offers Triferic Dialysate and Triferic AVNU which are indicated to maintain hemoglobin in adult undergoing hemodialysis.