Rockwell Medical (RMTI) Releases Earnings Results, Beats Expectations By $0.05 EPS

Rockwell Medical (NASDAQ:RMTI) released its earnings results on Friday. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05, MarketWatch Earnings reports. The business had revenue of $16.67 million during the quarter, compared to analysts’ expectations of $15.00 million. Rockwell Medical had a negative net margin of 55.38% and a negative return on equity of 89.63%.

NASDAQ RMTI traded up $0.79 during trading hours on Friday, hitting $4.38. 485,859 shares of the company’s stock traded hands, compared to its average volume of 151,407. Rockwell Medical has a 52-week low of $3.55 and a 52-week high of $6.98. The stock has a market cap of $198.54 million, a PE ratio of -8.59 and a beta of 1.42.

A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Friday. Ifs Securities reissued an “outperform” rating and set a $11.00 target price on shares of Rockwell Medical in a research note on Friday, October 19th. Finally, ValuEngine raised shares of Rockwell Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Rockwell Medical by 0.8% during the 3rd quarter. BlackRock Inc. now owns 3,221,245 shares of the company’s stock valued at $13,593,000 after acquiring an additional 25,322 shares in the last quarter. Raymond James & Associates grew its stake in Rockwell Medical by 59.0% during the 2nd quarter. Raymond James & Associates now owns 128,276 shares of the company’s stock valued at $632,000 after acquiring an additional 47,600 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Rockwell Medical by 13.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 108,942 shares of the company’s stock valued at $538,000 after acquiring an additional 13,042 shares in the last quarter. Finally, Sigma Investment Counselors Inc. grew its stake in Rockwell Medical by 24.3% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 86,834 shares of the company’s stock valued at $366,000 after acquiring an additional 17,000 shares in the last quarter. 22.15% of the stock is owned by institutional investors.

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Rockwell Medical Company Profile

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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Earnings History for Rockwell Medical (NASDAQ:RMTI)

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