Rockwell Medical (NASDAQ:RMTI) Stock Rating Lowered by Zacks Investment Research

Rockwell Medical (NASDAQ:RMTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Rockwell Medical Technologies, Inc. manufactures hemodialysis concentrates and dialysis kits, and sells, distributes and delivers such concentrates and dialysis kits, as well as other ancillary hemodialysis products, to hemodialysis providers in the United States. Hemodialysis is a process which is able to duplicate kidney function in patients whose kidneys have failed to function properly. “

Other research analysts have also recently issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of Rockwell Medical in a research report on Monday, December 2nd. Piper Jaffray Companies decreased their target price on shares of Rockwell Medical from $10.00 to $6.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $9.33.

NASDAQ RMTI traded down $0.02 during trading hours on Tuesday, reaching $2.77. The company had a trading volume of 399,563 shares, compared to its average volume of 293,880. The stock has a 50-day moving average of $2.32 and a 200 day moving average of $2.54. Rockwell Medical has a 1-year low of $1.81 and a 1-year high of $6.88. The company has a current ratio of 3.27, a quick ratio of 2.98 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $148.38 million, a P/E ratio of -5.89 and a beta of 1.49.

Rockwell Medical (NASDAQ:RMTI) last posted its earnings results on Monday, November 11th. The company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. Rockwell Medical had a negative net margin of 57.77% and a negative return on equity of 139.38%. The company had revenue of $15.41 million for the quarter, compared to analysts’ expectations of $15.40 million. As a group, sell-side analysts predict that Rockwell Medical will post -0.57 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Rockwell Medical by 12.4% during the second quarter. BlackRock Inc. now owns 3,659,380 shares of the company’s stock worth $11,015,000 after purchasing an additional 403,252 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Rockwell Medical by 26.9% during the second quarter. Vanguard Group Inc. now owns 2,853,258 shares of the company’s stock worth $8,589,000 after purchasing an additional 605,032 shares in the last quarter. Perceptive Advisors LLC acquired a new stake in shares of Rockwell Medical during the second quarter worth about $4,515,000. State Street Corp lifted its position in shares of Rockwell Medical by 7.5% during the third quarter. State Street Corp now owns 1,079,852 shares of the company’s stock worth $2,980,000 after purchasing an additional 74,883 shares in the last quarter. Finally, Luminus Management LLC acquired a new stake in shares of Rockwell Medical during the second quarter worth about $1,273,000. 21.20% of the stock is currently owned by institutional investors and hedge funds.

About Rockwell Medical

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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