Rockwell Medical (NASDAQ:RMTI) Rating Increased to Strong-Buy at RODMAN&RENSHAW

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

Several other research analysts have also commented on RMTI. Rodman & Renshaw began coverage on Rockwell Medical in a research report on Thursday. They issued a “buy” rating and a $5.00 target price for the company. StockNews.com raised shares of Rockwell Medical from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Rockwell Medical in a research note on Wednesday, September 11th.

Rockwell Medical Stock Performance

NASDAQ:RMTI opened at $2.49 on Thursday. The firm has a 50-day moving average of $3.71 and a two-hundred day moving average of $2.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.60. The stock has a market cap of $80.48 million, a P/E ratio of -49.80 and a beta of 1.50. Rockwell Medical has a 1-year low of $1.16 and a 1-year high of $5.15.

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

Hedge Funds Weigh In On Rockwell Medical

Several hedge funds and other institutional investors have recently modified their holdings of the company. Armistice Capital LLC increased its holdings in shares of 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 during the period. Walleye Capital LLC bought a new position in Rockwell Medical in the 3rd quarter worth about $435,000. Renaissance Technologies LLC increased its stake in shares of Rockwell Medical by 877.1% in the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after purchasing an additional 92,189 shares during the period. Corsair Capital Management L.P. bought a new stake in shares of Rockwell Medical during the third quarter valued at approximately $298,000. Finally, Vanguard Group Inc. boosted its position in shares of Rockwell Medical by 4.0% during 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. Institutional investors and hedge funds 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.