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

RODMAN&RENSHAW upgraded shares of Rockwell Medical (NASDAQ:RMTI) to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

A number of other research firms have also recently weighed in on RMTI. Rodman & Renshaw started coverage on Rockwell Medical in a report on Thursday. They issued a “buy” rating and a $5.00 price target on the stock. StockNews.com raised Rockwell Medical from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Rockwell Medical in a research report on Wednesday, September 11th.

Rockwell Medical Stock Performance

NASDAQ RMTI traded down $0.05 on Thursday, hitting $2.44. 753,121 shares of the company’s stock were exchanged, compared to its average volume of 362,909. 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 firm’s 50-day moving average price is $3.71 and its two-hundred day moving average price is $2.60. Rockwell Medical has a fifty-two week low of $1.16 and a fifty-two week high of $5.15. The firm has a market cap of $78.86 million, a price-to-earnings ratio of -46.20 and a beta of 1.50.

Rockwell Medical (NASDAQ:RMTI) last released its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 company had revenue of $28.32 million for the quarter, compared to analysts’ expectations of $25.99 million. On average, research analysts expect that Rockwell Medical will post -0.03 EPS for the current year.

Institutional Trading of Rockwell Medical

Several large investors have recently modified their holdings of RMTI. Vanguard Group Inc. grew its stake in 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 purchasing an additional 43,302 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of 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 last quarter. Armistice Capital LLC increased its stake in shares of Rockwell Medical by 22.5% during the second quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock valued at $5,670,000 after acquiring an additional 592,000 shares during the period. Beacon Financial Advisory LLC acquired a new position in shares of Rockwell Medical during the third quarter valued at approximately $98,000. Finally, Concurrent Investment Advisors LLC acquired a new position in Rockwell Medical in the third quarter worth approximately $40,000. 23.31% of the stock is currently owned by institutional investors and hedge funds.

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.