Equities researchers at Cantor Fitzgerald assumed coverage on shares of Rockwell Medical (NASDAQ:RMTI) in a research report issued on Monday, Marketbeat reports. The firm set an “overweight” rating and a $11.00 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 254.84% from the stock’s current price.
RMTI has been the topic of a number of other research reports. ValuEngine cut Rockwell Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Piper Jaffray Companies initiated coverage on Rockwell Medical in a research note on Monday. They set an “overweight” rating and a $10.00 price target on the stock. Ifs Securities lowered Rockwell Medical from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, June 19th. Finally, HC Wainwright set a $12.00 price objective on Rockwell Medical and gave the stock a “buy” rating in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $9.65.
NASDAQ RMTI opened at $3.10 on Monday. The company has a market cap of $172.12 million, a PE ratio of -6.60 and a beta of 1.87. Rockwell Medical has a 52-week low of $2.19 and a 52-week high of $6.88. The business’s 50 day simple moving average is $4.42. The company has a current ratio of 2.56, a quick ratio of 2.30 and a debt-to-equity ratio of 0.07.
Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.03. Rockwell Medical had a negative return on equity of 144.07% and a negative net margin of 55.09%. The company had revenue of $15.56 million during the quarter, compared to the consensus estimate of $16.90 million. Analysts anticipate that Rockwell Medical will post -0.55 EPS for the current fiscal year.
In related news, insider David S. Richmond purchased 4,643 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average price of $5.65 per share, for a total transaction of $26,232.95. Following the completion of the acquisition, the insider now owns 178,436 shares of the company’s stock, valued at approximately $1,008,163.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.90% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Rockwell Medical during the 4th quarter valued at $27,000. Quantamental Technologies LLC lifted its holdings in Rockwell Medical by 194.3% during the 1st quarter. Quantamental Technologies LLC now owns 5,301 shares of the company’s stock worth $30,000 after purchasing an additional 3,500 shares in the last quarter. AdvisorNet Financial Inc purchased a new stake in Rockwell Medical during the 4th quarter worth about $51,000. BNP Paribas Arbitrage SA lifted its holdings in Rockwell Medical by 5,456.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,891 shares of the company’s stock worth $56,000 after purchasing an additional 9,713 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Rockwell Medical during the 1st quarter worth about $57,000. Hedge funds and other institutional investors own 19.88% of the company’s stock.
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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