Rockwell Medical Inc. (NASDAQ:RMTI) Down 6.61%, DURECT Corporation (NASDAQ:DRRX) Down 6.90%

Posted by Michael Korte May 13, 2013 0 Comment 1197 views


Northern, WI 05/13/2013 (GDPInsider) –  Rockwell Medical Inc. (NASDAQ:RMTI) is down in 6.16% in trading today after starting the day at 3.82, a clear 0.08 below its previous close of 3.90. The stock has a range of 3.55 and 3.90 and is trading on volume of 314.61K, slightly below its average volume of 340.99K.

RMTI is one of the world’s largest manufacturers of hemodialysis concentrate solutions and dialysis kits and the company is just coming off its Q1 2013 earnings results. Those results saw RMTI posting an increase in sales of $12.3 million, 2.6% up on sales figures recorded over the corresponding quarter in 2012. The company saw domestic sales increase by 5.5% over Q1 2012 and RMTI posted a reduction in gross profit by $300,000. Management attributed this reduction to increased material and operational costs incurred over the quarter.

The company also announced the submission of Calcitriol (active vitamin D) injection data to the FDA for the go-ahead to start manufacturing the drug. RMTI is still facing headwinds and the stock is still down 10.08% on its 50-day simple moving average. Analysts have set a target price of 13.00 and the stock has a RSI of 38.62.

Is RMTI a solid investment at these levels? Get exclusive data and trends here.

DURECT Corporation (NASDAQ:DRRX) is down 6.90% on trading volume of 591.02K. DRRX started the day at 1.06, 0.01 above its previous close of 1.05 and the stock has a range of 0.96 and 1.10. The stock is trading 47.56% below its 52-week high of 1.85 and 59.03% above its 52-week low of 0.61.

DURECT was hit with bad news last Friday (May 10, 2013) after its partner, Pfzier, announced that it would not be pursuing further development of the pain-relief drug, Remoxy. The drug has been undergoing development for years and has been riddled with problems at the regulatory level. “Given the years of delay, additional cost incurred to bring the program to this point and development work left in the program, there will be much to consider when we seek management endorsement,” said a spokesperson form Pfizer.

DURECT has a P/E of 5.53 and the company does expect EPS to rise this year by 185.18%. The stock however, has been trading down on its 50-day simple moving average by 27.03%. Analysts have set a target price of 2.75 and DRRX has a RSI of 31.88.

How Should Investors Trade DRRX Now? Get exclusive insights and updates here.

 

 

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About Michael Korte

Michael Korte an investigative reporter at GDP Insider and is a breaking news reporter. Michael work includes investigations of misconduct by federal prosecutors and industrial air pollution around the nation's schools. His reporting has been recognized with the Hillman Prize for Newspaper Journalism, the Grantham Prize for Excellence in Reporting on the Environment, and the Philip Meyer Journalism Award for reporting that incorporates social science methods.

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