Rockwell Medical (NASDAQ:RMTI – Get Free Report)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report issued on Friday, Benzinga reports. They currently have a $20.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 148.76% from the stock’s current price.
A number of other research firms have also issued reports on RMTI. Weiss Ratings raised Rockwell Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 3rd. Wall Street Zen raised shares of Rockwell Medical to a “hold” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.00.
View Our Latest Report on RMTI
Rockwell Medical Stock Performance
Rockwell Medical (NASDAQ:RMTI – Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.10). Rockwell Medical had a negative net margin of 7.33% and a negative return on equity of 14.03%. The firm had revenue of $17.78 million for the quarter, compared to analyst estimates of $17.82 million. Research analysts predict that Rockwell Medical will post -0.76 EPS for the current fiscal year.
Hedge Funds Weigh In On Rockwell Medical
A number of hedge funds have recently modified their holdings of the stock. Corsair Capital Management L.P. acquired a new position in shares of Rockwell Medical in the 1st quarter worth $45,000. XTX Topco Ltd lifted its holdings in shares of Rockwell Medical by 286.5% during the fourth quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock valued at $52,000 after purchasing an additional 46,029 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Rockwell Medical in the 4th quarter valued at $84,000. Geode Capital Management LLC boosted its position in shares of Rockwell Medical by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock valued at $304,000 after purchasing an additional 41,668 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Rockwell Medical by 36.5% in the 1st quarter. Renaissance Technologies LLC now owns 639,120 shares of the company’s stock worth $571,000 after purchasing an additional 170,800 shares in the last quarter. 23.31% of the stock is currently owned by institutional investors and hedge funds.
About Rockwell Medical
Rockwell Medical, Inc is a Delaware‐domiciled biopharmaceutical company focused on the development and commercialization of therapies for patients with chronic kidney disease (CKD). The company’s mission centers on addressing common complications in CKD—namely iron deficiency and secondary hyperparathyroidism—through innovative treatment approaches designed for dialysis settings.
The company’s lead product, TRIFERIC®, is an iron replacement therapy approved by the U.S. Food and Drug Administration for use in hemodialysis patients.
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