Rockwell Medical (NASDAQ:RMTI) Price Target Lowered to $2.50 at HC Wainwright

by · The Cerbat Gem

Rockwell Medical (NASDAQ:RMTI – Get Free Report) had its price target reduced by HC Wainwright from $3.00 to $2.50 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 171.15% from the stock’s previous close.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Rockwell Medical in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.75.

Check Out Our Latest Stock Analysis on Rockwell Medical

Rockwell Medical Trading Down 3.5%

RMTI stock traded down $0.03 during mid-day trading on Thursday, reaching $0.92. The company had a trading volume of 268,312 shares, compared to its average volume of 627,199. Rockwell Medical has a 12 month low of $0.78 and a 12 month high of $2.67. The company has a market capitalization of $31.74 million, a PE ratio of -15.37 and a beta of 1.68. The firm has a 50 day moving average of $1.26 and a 200 day moving average of $1.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.89 and a quick ratio of 2.51.

Rockwell Medical (NASDAQ:RMTI – Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $16.07 million for the quarter, compared to analyst estimates of $16.33 million. Rockwell Medical had a negative return on equity of 6.79% and a negative net margin of 2.38%. On average, equities analysts predict that Rockwell Medical will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rockwell Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMTI. GSA Capital Partners LLP boosted its stake in Rockwell Medical by 635.1% during the 3rd quarter. GSA Capital Partners LLP now owns 163,978 shares of the company’s stock worth $197,000 after purchasing an additional 141,672 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Rockwell Medical by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,354,147 shares of the company’s stock valued at $1,625,000 after buying an additional 148,737 shares during the period. Finally, Panagora Asset Management Inc. acquired a new position in shares of Rockwell Medical in the 2nd quarter valued at $41,000. 23.31% of the stock is owned by hedge funds and other institutional investors.

About Rockwell Medical

(Get Free Report)

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.

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