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

Stock analysts at Rodman & Renshaw assumed coverage on shares of Rockwell Medical (NASDAQ:RMTI) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $5.00 price target on the stock. Rodman & Renshaw’s target price suggests a potential upside of 90.11% from the company’s previous close.

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

Rockwell Medical Trading Down 7.1 %

Rockwell Medical stock opened at $2.63 on Thursday. Rockwell Medical has a 12 month low of $1.16 and a 12 month high of $5.15. The firm has a market cap of $81.61 million, a PE ratio of -52.60 and a beta of 1.50. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.41. The stock’s 50 day simple moving average is $3.72 and its two-hundred day simple moving average is $2.60.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMTI. Concurrent Investment Advisors LLC acquired a new stake in shares of Rockwell Medical in the 3rd quarter worth $40,000. Verus Capital Partners LLC acquired a new stake in shares of Rockwell Medical in the 3rd quarter worth $51,000. Beacon Financial Advisory LLC acquired a new stake in shares of Rockwell Medical in the 3rd quarter worth $98,000. Renaissance Technologies LLC increased its stake in shares of Rockwell Medical by 877.1% in the 2nd quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock worth $181,000 after acquiring an additional 92,189 shares during the last quarter. Finally, Corsair Capital Management L.P. acquired a new stake in shares of Rockwell Medical in the 3rd quarter worth $298,000. Hedge funds and other institutional investors own 23.31% of the company’s stock.

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.