Rodman & Renshaw Initiates Coverage on Rockwell Medical (NASDAQ:RMTI)

Analysts at Rodman & Renshaw started coverage on shares of Rockwell Medical (NASDAQ:RMTI) in a report issued on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $5.00 price target on the stock. Rodman & Renshaw’s target price suggests a potential upside of 112.31% from the stock’s current price.

A number of other research firms also recently weighed in on RMTI. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Rockwell Medical in a research note on Wednesday, September 11th. StockNews.com raised Rockwell Medical from a “hold” rating to a “buy” rating in a research note on Wednesday.

Rockwell Medical Stock Down 5.4 %

RMTI opened at $2.36 on Thursday. Rockwell Medical has a fifty-two week low of $1.16 and a fifty-two week high of $5.15. The business has a 50-day moving average of $3.70 and a 200-day moving average of $2.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.60. The company has a market capitalization of $76.11 million, a PE ratio of -47.20 and a beta of 1.50.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Rockwell Medical had a positive return on equity of 8.55% and a negative net margin of 1.25%. The company had revenue of $28.32 million during the quarter, compared to the consensus estimate of $25.99 million. Equities research analysts forecast that Rockwell Medical will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RMTI. Armistice Capital LLC raised its stake in shares of Rockwell Medical by 22.5% in the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock valued at $5,670,000 after acquiring an additional 592,000 shares in the last quarter. Jane Street Group LLC acquired a new stake in Rockwell Medical in the 3rd quarter valued at approximately $534,000. Walleye Capital LLC acquired a new stake in Rockwell Medical in the 3rd quarter valued at approximately $435,000. Renaissance Technologies LLC grew its holdings in Rockwell Medical by 877.1% in the 2nd quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after buying an additional 92,189 shares during the last quarter. Finally, Corsair Capital Management L.P. acquired a new stake in Rockwell Medical in the 3rd quarter valued at approximately $298,000. 23.31% of the stock is owned by institutional investors.

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.