Zacks Investment Research upgraded shares of Rockwell Medical (NASDAQ:RMTI) from a sell rating to a hold rating in a report issued on Friday morning.
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 research firms have also recently commented on RMTI. ValuEngine raised Rockwell Medical from a hold rating to a buy rating in a report on Tuesday, September 4th. Ifs Securities reissued an outperform rating and issued a $11.00 price target on shares of Rockwell Medical in a report on Friday, October 19th.
Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings results on Friday, November 9th. The company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.05. Rockwell Medical had a negative return on equity of 89.63% and a negative net margin of 55.38%. The company had revenue of $16.67 million for the quarter, compared to analysts’ expectations of $15.00 million. As a group, equities analysts forecast that Rockwell Medical will post -0.64 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of RMTI. BlackRock Inc. increased its stake in Rockwell Medical by 0.8% in the 3rd quarter. BlackRock Inc. now owns 3,221,245 shares of the company’s stock worth $13,593,000 after acquiring an additional 25,322 shares during the last quarter. Raymond James & Associates increased its stake in Rockwell Medical by 59.0% in the 2nd 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. Schwab Charles Investment Management Inc. increased its stake in Rockwell Medical by 13.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 108,942 shares of the company’s stock worth $538,000 after acquiring an additional 13,042 shares during the last quarter. Finally, Sigma Investment Counselors Inc. increased its stake in Rockwell Medical by 24.3% in the 3rd 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. 22.15% of the stock is currently owned by institutional investors.
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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