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

Investment analysts at Rodman & Renshaw initiated coverage on shares of Rockwell Medical (NASDAQ:RMTI) in a research report issued 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 indicates a potential upside of 90.11% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded Rockwell Medical from a “hold” rating to a “buy” rating in a report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Rockwell Medical in a research note on Wednesday, September 11th.

Rockwell Medical Stock Down 7.1 %

Shares of NASDAQ:RMTI opened at $2.63 on Thursday. The business has a 50-day moving average price of $3.72 and a 200 day moving average price of $2.60. 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 company has a market capitalization of $81.61 million, a price-to-earnings ratio of -52.60 and a beta of 1.50. Rockwell Medical has a 12-month low of $1.16 and a 12-month high of $5.15.

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

Hedge Funds Weigh In On Rockwell Medical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC purchased a new position in shares of Rockwell Medical in the 3rd quarter valued at about $40,000. Verus Capital Partners LLC purchased a new stake in Rockwell Medical during the third quarter worth approximately $51,000. Beacon Financial Advisory LLC purchased a new stake in Rockwell Medical during the third quarter worth approximately $98,000. Corsair Capital Management L.P. purchased a new stake in Rockwell Medical during the third quarter worth approximately $298,000. Finally, Renaissance Technologies LLC lifted its stake in Rockwell Medical by 877.1% during the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock worth $181,000 after purchasing an additional 92,189 shares during the last quarter. Hedge funds and other institutional investors own 23.31% of the company’s stock.

About Rockwell Medical

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.