Rockwell Medical (NASDAQ:RMTI) Raised to “Buy” at Zacks Investment Research

Rockwell Medical (NASDAQ:RMTIGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Zacks.com reports. The firm currently has a $1.75 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 25.90% from the company’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. “

Separately, StockNews.com began coverage on Rockwell Medical in a research report on Saturday, May 21st. They set a “hold” rating on the stock.

RMTI opened at $1.39 on Friday. The business’s 50-day simple moving average is $3.99 and its 200-day simple moving average is $4.26. The company has a current ratio of 1.27, a quick ratio of 1.49 and a debt-to-equity ratio of 5.21. Rockwell Medical has a one year low of $1.36 and a one year high of $11.66.

Rockwell Medical (NASDAQ:RMTIGet Rating) last posted its earnings results on Thursday, May 19th. The company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.15. Rockwell Medical had a negative return on equity of 474.88% and a negative net margin of 51.27%. The business had revenue of $16.12 million for the quarter, compared to analysts’ expectations of $18.80 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. On average, sell-side analysts anticipate that Rockwell Medical will post -3.74 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMTI. Marshall Wace LLP purchased a new position in shares of Rockwell Medical during the third quarter worth about $25,000. Renaissance Technologies LLC grew its holdings in shares of Rockwell Medical by 81.1% during the fourth quarter. Renaissance Technologies LLC now owns 225,534 shares of the company’s stock worth $92,000 after buying an additional 101,000 shares during the last quarter. Metropolitan Life Insurance Co NY purchased a new position in shares of Rockwell Medical during the first quarter worth about $106,000. Verdence Capital Advisors LLC grew its holdings in shares of Rockwell Medical by 25.1% during the fourth quarter. Verdence Capital Advisors LLC now owns 443,545 shares of the company’s stock worth $182,000 after buying an additional 88,980 shares during the last quarter. Finally, Perkins Capital Management Inc. grew its holdings in shares of Rockwell Medical by 34.5% during the fourth quarter. Perkins Capital Management Inc. now owns 2,957,025 shares of the company’s stock worth $1,212,000 after buying an additional 758,400 shares during the last quarter. 27.88% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Medical Company Profile (Get Rating)

Rockwell Medical, Inc, together with its subsidiaries, operates as a biopharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis in the United States and internationally. The company offers Triferic Dialysate and Triferic AVNU, an iron therapy that replaces iron and maintains hemoglobin in dialysis patients without increasing iron stores.

Further Reading

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