Rockwell Medical (RMTI) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Rockwell Medical (NASDAQ:RMTI) from a sell rating to a hold rating in a report issued on Friday.

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. “

Several other research firms have also recently issued reports on RMTI. ValuEngine raised shares of Rockwell Medical from a hold rating to a buy rating in a research report on Tuesday, September 4th. Ifs Securities reissued an outperform rating and issued a $11.00 target price on shares of Rockwell Medical in a research report on Friday, October 19th.

Shares of Rockwell Medical stock traded down $0.22 during mid-day trading on Friday, hitting $3.93. 329,815 shares of the stock were exchanged, compared to its average volume of 128,810. Rockwell Medical has a twelve month low of $3.62 and a twelve month high of $6.98.

Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings results on Tuesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.09). Rockwell Medical had a negative return on equity of 89.63% and a negative net margin of 55.38%. The firm had revenue of $14.91 million for the quarter, compared to analyst estimates of $14.90 million. As a group, equities research analysts expect that Rockwell Medical will post -0.64 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sigma Investment Counselors Inc. boosted its position in shares of Rockwell Medical by 24.3% in the third quarter. Sigma Investment Counselors Inc. now owns 86,834 shares of the company’s stock worth $366,000 after acquiring an additional 17,000 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Rockwell Medical by 21.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 95,900 shares of the company’s stock worth $500,000 after acquiring an additional 17,200 shares during the last quarter. Raymond James & Associates boosted its position in shares of Rockwell Medical by 59.0% in the second quarter. Raymond James & Associates now owns 128,276 shares of the company’s stock worth $632,000 after acquiring an additional 47,600 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Rockwell Medical by 4.8% in the second quarter. BlackRock Inc. now owns 3,195,923 shares of the company’s stock worth $15,756,000 after acquiring an additional 147,384 shares during the last quarter. 22.20% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Medical Company Profile

Rockwell Medical, Inc operates as an integrated biopharmaceutical company targeting end-stage renal and chronic kidney diseases in the United States and internationally. The company's lead drug includes Triferic, an iron maintenance therapy that replaces the iron lost by patients during hemodialysis treatment.

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