Rockwell Medical (NASDAQ:RMTI) Coverage Initiated at Rodman & Renshaw

Analysts at Rodman & Renshaw began coverage on shares of Rockwell Medical (NASDAQ:RMTI) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set a “buy” rating and a $5.00 price target on the stock. Rodman & Renshaw’s target price would suggest a potential upside of 112.31% from the company’s current price.

RMTI has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Rockwell Medical in a research note on Wednesday, September 11th. StockNews.com upgraded Rockwell Medical from a “hold” rating to a “buy” rating in a research report on Wednesday.

Rockwell Medical Trading Down 5.4 %

Shares of RMTI stock opened at $2.36 on Thursday. The stock has a 50-day simple moving average of $3.70 and a 200 day simple moving average of $2.60. Rockwell Medical has a fifty-two week low of $1.16 and a fifty-two week high of $5.15. The stock has a market capitalization of $76.11 million, a P/E ratio of -47.20 and a beta of 1.50. The company has a quick ratio of 1.60, a current ratio of 2.41 and a debt-to-equity ratio of 0.33.

Rockwell Medical (NASDAQ:RMTI) last announced its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. Rockwell Medical had a positive return on equity of 8.55% and a negative net margin of 1.25%. The business had revenue of $28.32 million during the quarter, compared to analysts’ expectations of $25.99 million. On average, sell-side analysts expect that Rockwell Medical will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rockwell Medical

Hedge funds and other institutional investors have recently modified their holdings of the stock. Concurrent Investment Advisors LLC acquired a new position in shares of Rockwell Medical in the 3rd quarter valued at $40,000. Verus Capital Partners LLC acquired a new stake in Rockwell Medical during the 3rd quarter worth about $51,000. Barclays PLC acquired a new stake in Rockwell Medical during the 3rd quarter worth about $90,000. Beacon Financial Advisory LLC acquired a new stake in Rockwell Medical during the 3rd quarter worth about $98,000. Finally, XTX Topco Ltd boosted its position in Rockwell Medical by 45.7% during the 3rd quarter. XTX Topco Ltd now owns 28,455 shares of the company’s stock worth $113,000 after acquiring an additional 8,922 shares during the period. Institutional investors and hedge funds own 23.31% of the company’s stock.

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.