Brokerages Set Rockwell Medical Inc (NASDAQ:RMTI) Target Price at $8.67

Rockwell Medical Inc (NASDAQ:RMTI) has earned a consensus rating of “Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $8.67.

Several brokerages have recently weighed in on RMTI. Zacks Investment Research cut shares of Rockwell Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, April 14th. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Rockwell Medical in a research note on Tuesday, May 19th. Finally, ValuEngine upgraded shares of Rockwell Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, March 17th.

Shares of Rockwell Medical stock traded down $0.04 on Monday, hitting $2.00. 697,767 shares of the company’s stock were exchanged, compared to its average volume of 532,966. The company has a 50-day simple moving average of $2.17 and a 200-day simple moving average of $2.38. Rockwell Medical has a 1 year low of $1.31 and a 1 year high of $4.58. The company has a current ratio of 4.45, a quick ratio of 4.13 and a debt-to-equity ratio of 1.02.

Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.12) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.12). The business had revenue of $15.86 million for the quarter, compared to analysts’ expectations of $15.71 million. Rockwell Medical had a negative net margin of 54.27% and a negative return on equity of 140.20%. As a group, equities analysts anticipate that Rockwell Medical will post -0.49 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in RMTI. Marshall Wace LLP bought a new stake in shares of Rockwell Medical during the 1st quarter valued at $57,000. Metropolitan Life Insurance Co NY bought a new stake in shares of Rockwell Medical during the 1st quarter valued at $106,000. California Public Employees Retirement System raised its position in shares of Rockwell Medical by 27.1% during the 4th quarter. California Public Employees Retirement System now owns 78,400 shares of the company’s stock valued at $191,000 after purchasing an additional 16,731 shares during the period. SG Americas Securities LLC bought a new stake in Rockwell Medical in the 4th quarter valued at $31,000. Finally, Virtu Financial LLC bought a new stake in Rockwell Medical in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 21.13% of the company’s stock.

Rockwell Medical Company Profile

Rockwell Medical, Inc operates as a specialty pharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis. The company offers Triferic, an iron therapy that replaces iron and maintains hemoglobin in dialysis patients without increasing iron stores; and Calcitriol, an active vitamin D injection for the management of hypocalcemia in patients undergoing chronic hemodialysis.

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