$16.77 Million in Sales Expected for Rockwell Medical Inc (NASDAQ:RMTI) This Quarter

Analysts expect Rockwell Medical Inc (NASDAQ:RMTI) to announce sales of $16.77 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Rockwell Medical’s earnings. The highest sales estimate is $17.70 million and the lowest is $15.83 million. Rockwell Medical posted sales of $16.85 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.5%. The firm is scheduled to issue its next earnings results on Thursday, March 12th.

On average, analysts expect that Rockwell Medical will report full year sales of $62.57 million for the current financial year, with estimates ranging from $61.65 million to $63.50 million. For the next year, analysts expect that the company will report sales of $89.91 million, with estimates ranging from $75.22 million to $104.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Rockwell Medical.

Rockwell Medical (NASDAQ:RMTI) last posted its earnings results on Monday, November 11th. The company reported ($0.12) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. Rockwell Medical had a negative net margin of 57.77% and a negative return on equity of 139.38%. The firm had revenue of $15.41 million during the quarter, compared to the consensus estimate of $15.40 million.

A number of brokerages have recently commented on RMTI. HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of Rockwell Medical in a report on Monday, December 2nd. Zacks Investment Research downgraded shares of Rockwell Medical from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Piper Jaffray Companies lowered their price target on shares of Rockwell Medical from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Rockwell Medical currently has an average rating of “Buy” and an average price target of $9.33.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Rockwell Medical by 12.4% in the second quarter. BlackRock Inc. now owns 3,659,380 shares of the company’s stock worth $11,015,000 after acquiring an additional 403,252 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Rockwell Medical by 26.9% in the second quarter. Vanguard Group Inc. now owns 2,853,258 shares of the company’s stock worth $8,589,000 after acquiring an additional 605,032 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in shares of Rockwell Medical in the second quarter worth approximately $4,515,000. State Street Corp boosted its position in shares of Rockwell Medical by 7.5% in the third quarter. State Street Corp now owns 1,079,852 shares of the company’s stock worth $2,980,000 after acquiring an additional 74,883 shares during the last quarter. Finally, Luminus Management LLC acquired a new stake in shares of Rockwell Medical in the second quarter worth approximately $1,273,000. 21.20% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ RMTI traded down $0.07 during midday trading on Monday, reaching $2.72. 24,744 shares of the stock were exchanged, compared to its average volume of 293,880. The company has a market capitalization of $148.38 million, a P/E ratio of -5.94 and a beta of 1.49. Rockwell Medical has a 52-week low of $1.81 and a 52-week high of $6.88. The company has a current ratio of 3.27, a quick ratio of 2.98 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average price of $2.32 and a 200-day moving average price of $2.54.

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.

Further Reading: Gross Domestic Product (GDP)

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