RODMAN&RENSHAW Upgrades Rockwell Medical (NASDAQ:RMTI) to “Strong-Buy”

Rockwell Medical (NASDAQ:RMTI) was upgraded by equities research analysts at RODMAN&RENSHAW to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

A number of other research firms also recently commented on RMTI. StockNews.com upgraded shares of Rockwell Medical from a “hold” rating to a “buy” rating in a report on Wednesday. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Rockwell Medical in a research report on Wednesday, September 11th. Finally, Rodman & Renshaw assumed coverage on Rockwell Medical in a research report on Thursday. They set a “buy” rating and a $5.00 price objective for the company.

Rockwell Medical Stock Performance

Shares of NASDAQ RMTI opened at $2.49 on Thursday. Rockwell Medical has a 1 year low of $1.16 and a 1 year high of $5.15. The firm has a market cap of $80.48 million, a P/E ratio of -49.80 and a beta of 1.50. The stock has a fifty day moving average price of $3.71 and a two-hundred day moving average price of $2.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 2.41.

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. Research analysts forecast that Rockwell Medical will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Rockwell Medical by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock worth $1,856,000 after buying an additional 43,302 shares during the period. Renaissance Technologies LLC raised its position in Rockwell Medical by 877.1% during the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after buying an additional 92,189 shares during the period. Armistice Capital LLC lifted its stake in Rockwell Medical by 22.5% in the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock worth $5,670,000 after acquiring an additional 592,000 shares in the last quarter. Beacon Financial Advisory LLC acquired a new stake in Rockwell Medical during the 3rd quarter worth about $98,000. Finally, Concurrent Investment Advisors LLC purchased a new position in Rockwell Medical during the 3rd quarter valued at about $40,000. 23.31% of the stock is owned by hedge funds and other institutional investors.

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.