BTIG Research Initiates Coverage on Rockwell Medical Inc to Buy

BTIG Research Initiates Coverage on Rockwell Medical Inc(NASDAQ:RMTI). The shares have been rated Buy. The rating by BTIG Research was issued on Aug 19, 2016.

Rockwell Medical Inc (RMTI) made into the market gainers list on Mondays trading session with the shares advancing 0.14% or 0.01 points. Due to strong positive momentum, the stock ended at $7.15, which is also near the day’s high of $7.25. The stock began the session at $7.19 and the volume stood at 2,10,685 shares. The 52-week high of the shares is $13.5 and the 52 week low is $5.47. The company has a current market capitalization of $368 M and it has 5,15,26,877 shares in outstanding.

Rockwell Medical Inc(RMTI) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $13.45M. Analysts had an estimated revenue of $13.86M. Earnings per share were $-0.11. Analysts had estimated an EPS of $-0.10.

Several Insider Transactions has been reported to the SEC. On Aug 16, 2016, Kenneth L Holt (director) sold 3,692 shares at $7.31 per share price.Also, On Dec 8, 2015, Ronald D Boyd (director) sold 12,500 shares at $10.59 per share price.On Aug 14, 2015, Robert L Chioini (CEO) purchased 4,910 shares at $11.96 per share price, according to the Form-4 filing with the securities and exchange commission.

Rockwell Medical Inc. (Rockwell) is a biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with products and services for the treatment of iron deficiency secondary hyperparathyroidism and hemodialysis. The Company’s lead branded drug Triferic is approved by the United States Food and Drug Administration (FDA). Triferic is an iron compound that is delivered to hemodialysis patients via dialysate replacing the iron loss that occurs during their dialysis treatment. Triferic enters the blood and immediately binds to transferrin and is transported to the erythroid precursor cells to be incorporated into hemoglobin. Rockwell’s generic drug Calcitriol is indicated for treating secondary hyperparathyroidism in dialysis patients. The Company manufactures sells delivers and distributes hemodialysis concentrates along with a range of ancillary products.

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