Rockwell Medical (RMTI) Earns “Outperform” Rating from Ifs Securities

Rockwell Medical (NASDAQ:RMTI)‘s stock had its “outperform” rating reaffirmed by analysts at Ifs Securities in a note issued to investors on Friday. They currently have a $11.00 price objective on the stock. Ifs Securities’ price objective suggests a potential upside of 154.63% from the company’s previous close.

A number of other research firms have also recently commented on RMTI. ValuEngine upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. Zacks Investment Research upgraded Rockwell Medical from a “sell” rating to a “buy” rating and set a $4.75 price target for the company in a report on Wednesday, July 11th.

Rockwell Medical stock traded up $0.03 during midday trading on Friday, reaching $4.32. 17,885 shares of the company’s stock were exchanged, compared to its average volume of 138,157. Rockwell Medical has a 52 week low of $3.62 and a 52 week high of $7.40. The stock has a market capitalization of $224.77 million, a P/E ratio of -8.47 and a beta of 1.53.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings results on Tuesday, August 14th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). Rockwell Medical had a negative return on equity of 89.63% and a negative net margin of 55.38%. The business had revenue of $14.91 million for the quarter, compared to the consensus estimate of $14.90 million. On average, sell-side analysts anticipate that Rockwell Medical will post -0.65 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Rockwell Medical by 4.8% during the second quarter. BlackRock Inc. now owns 3,195,923 shares of the company’s stock worth $15,756,000 after acquiring an additional 147,384 shares during the period. Raymond James & Associates boosted its holdings in shares of Rockwell Medical by 59.0% during the second quarter. Raymond James & Associates now owns 128,276 shares of the company’s stock worth $632,000 after acquiring an additional 47,600 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Rockwell Medical by 13.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 108,942 shares of the company’s stock worth $538,000 after acquiring an additional 13,042 shares during the period. Institutional investors and hedge funds own 22.20% of the company’s stock.

About Rockwell Medical

Rockwell Medical, Inc operates as an integrated biopharmaceutical company targeting end-stage renal and chronic kidney diseases in the United States and internationally. The company's lead drug includes Triferic, an iron maintenance therapy that replaces the iron lost by patients during hemodialysis treatment.

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