Rockwell Medical (NASDAQ:RMTI) Raised to Buy at StockNews.com

Rockwell Medical (NASDAQ:RMTI) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Separately, HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Rockwell Medical in a research note on Wednesday, September 11th.

Rockwell Medical Price Performance

NASDAQ:RMTI opened at $2.49 on Wednesday. Rockwell Medical has a 52 week low of $1.16 and a 52 week high of $5.15. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.60 and a current ratio of 2.00. The firm’s 50-day simple moving average is $3.71 and its 200 day simple moving average is $2.60. The firm has a market cap of $77.26 million, a price-to-earnings ratio of -51.20 and a beta of 1.50.

Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $28.32 million during the quarter, compared to the consensus estimate of $25.99 million. Rockwell Medical had a negative net margin of 1.25% and a positive return on equity of 9.27%. As a group, sell-side analysts predict that Rockwell Medical will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Rockwell Medical

Institutional investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC acquired a new stake in Rockwell Medical in the third quarter valued at approximately $435,000. Corsair Capital Management L.P. bought a new position in shares of Rockwell Medical in the 3rd quarter valued at $298,000. Verus Capital Partners LLC bought a new position in shares of Rockwell Medical in the 3rd quarter valued at $51,000. Concurrent Investment Advisors LLC bought a new stake in Rockwell Medical during the 3rd quarter worth $40,000. Finally, Beacon Financial Advisory LLC bought a new stake in Rockwell Medical during the 3rd quarter worth $98,000. 23.31% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Medical Company Profile

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.