Rockwell Medical, Inc. (NASDAQ:RMTI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, October 25th. The brokerage presently has a $7.50 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 11.28% from the stock’s previous close.
According to Zacks, “Rockwell Medical Technologies, Inc. manufactures hemodialysis concentrates and dialysis kits, and sells, distributes and delivers such concentrates and dialysis kits, as well as other ancillary hemodialysis products, to hemodialysis providers in the United States. Hemodialysis is a process which is able to duplicate kidney function in patients whose kidneys have failed to function properly. “
A number of other equities analysts have also weighed in on the company. BidaskClub upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Ifs Securities started coverage on Rockwell Medical in a research note on Monday, August 14th. They issued a “strong-buy” rating and a $11.00 target price on the stock.
Rockwell Medical (NASDAQ RMTI) opened at $6.74 on Wednesday. Rockwell Medical has a 1 year low of $5.01 and a 1 year high of $8.98.
Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings results on Wednesday, November 8th. The company reported ($0.10) EPS for the quarter, meeting analysts’ consensus estimates of ($0.10). Rockwell Medical had a negative return on equity of 46.63% and a negative net margin of 39.28%. The firm had revenue of $14.63 million for the quarter, compared to analysts’ expectations of $13.33 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. sell-side analysts expect that Rockwell Medical will post -0.44 EPS for the current year.
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Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Rockwell Medical by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 1,990,057 shares of the company’s stock valued at $12,458,000 after purchasing an additional 93,589 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Rockwell Medical by 0.5% during the 1st quarter. Wells Fargo & Company MN now owns 115,738 shares of the company’s stock valued at $725,000 after acquiring an additional 550 shares during the period. GSA Capital Partners LLP boosted its holdings in Rockwell Medical by 216.8% during the 2nd quarter. GSA Capital Partners LLP now owns 76,566 shares of the company’s stock valued at $607,000 after acquiring an additional 52,400 shares during the period. Balasa Dinverno & Foltz LLC boosted its holdings in Rockwell Medical by 5.8% during the 2nd quarter. Balasa Dinverno & Foltz LLC now owns 54,300 shares of the company’s stock valued at $431,000 after acquiring an additional 3,000 shares during the period. Finally, Athos Capital Ltd purchased a new stake in Rockwell Medical during the 3rd quarter valued at about $6,834,000. Hedge funds and other institutional investors own 21.72% of the company’s stock.
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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