Equities research analysts expect Rockwell Medical Inc (NASDAQ:RMTI) to announce sales of $16.42 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Rockwell Medical’s earnings. The lowest sales estimate is $15.86 million and the highest is $17.30 million. Rockwell Medical posted sales of $14.91 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.1%. The company is expected to issue its next earnings report on Tuesday, August 13th.
On average, analysts expect that Rockwell Medical will report full-year sales of $70.30 million for the current fiscal year, with estimates ranging from $64.55 million to $75.64 million. For the next year, analysts anticipate that the firm will report sales of $108.93 million, with estimates ranging from $90.15 million to $127.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Rockwell Medical.
Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. The firm had revenue of $15.56 million for the quarter, compared to analyst estimates of $16.90 million. Rockwell Medical had a negative net margin of 55.09% and a negative return on equity of 144.07%.
Several research firms have issued reports on RMTI. Cantor Fitzgerald began coverage on shares of Rockwell Medical in a research report on Monday, June 24th. They issued an “overweight” rating and a $11.00 price target on the stock. Ifs Securities lowered shares of Rockwell Medical from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, June 19th. Piper Jaffray Companies set a $30.00 price target on shares of Under Armour and gave the stock a “buy” rating in a research report on Monday, June 24th. HC Wainwright set a $55.00 price target on shares of Acer Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Finally, ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Rockwell Medical has a consensus rating of “Buy” and an average price target of $9.65.
In other news, insider David S. Richmond acquired 4,643 shares of the stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of $5.65 per share, for a total transaction of $26,232.95. Following the transaction, the insider now owns 178,436 shares in the company, valued at approximately $1,008,163.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David S. Richmond acquired 9,780 shares of the stock in a transaction on Monday, July 8th. The shares were purchased at an average price of $3.05 per share, for a total transaction of $29,829.00. Following the completion of the transaction, the insider now owns 179,039 shares in the company, valued at approximately $546,068.95. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 34,423 shares of company stock worth $116,362. 3.90% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co NY acquired a new stake in shares of Rockwell Medical during the 1st quarter worth about $106,000. MetLife Investment Advisors LLC acquired a new stake in shares of Rockwell Medical during the 1st quarter worth about $147,000. Marshall Wace LLP acquired a new stake in shares of Rockwell Medical during the 1st quarter worth about $57,000. Corient Capital Partners LLC acquired a new stake in shares of Rockwell Medical during the 1st quarter worth about $195,000. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Rockwell Medical by 63.5% during the 1st quarter. CIBC Private Wealth Group LLC now owns 25,750 shares of the company’s stock worth $147,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 19.88% of the company’s stock.
Rockwell Medical stock traded up $0.12 during mid-day trading on Monday, hitting $3.02. The company’s stock had a trading volume of 722,723 shares, compared to its average volume of 479,344. The company has a quick ratio of 2.30, a current ratio of 2.56 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $166.94 million, a PE ratio of -6.43 and a beta of 1.47. Rockwell Medical has a twelve month low of $2.19 and a twelve month high of $6.88. The firm’s fifty day simple moving average is $3.49.
Rockwell Medical Company Profile
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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