FY2024 EPS Estimate for Rockwell Medical Lifted by Analyst

Rockwell Medical, Inc. (NASDAQ:RMTI) – Research analysts at HC Wainwright upped their FY2024 earnings per share (EPS) estimates for shares of Rockwell Medical in a note issued to investors on Monday, November 25th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings per share of $0.03 for the year, up from their prior forecast of ($0.03). HC Wainwright has a “Buy” rating and a $7.00 price objective on the stock. The consensus estimate for Rockwell Medical’s current full-year earnings is ($0.03) per share. HC Wainwright also issued estimates for Rockwell Medical’s Q4 2024 earnings at $0.02 EPS, Q1 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.03) EPS.

Other analysts have also recently issued reports about the stock. Rodman & Renshaw started coverage on shares of Rockwell Medical in a report on Thursday, November 14th. They issued a “buy” rating and a $5.00 price target on the stock. StockNews.com lowered shares of Rockwell Medical from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, RODMAN&RENSHAW upgraded Rockwell Medical to a “strong-buy” rating in a research note on Thursday, November 14th.

Rockwell Medical Stock Performance

Rockwell Medical stock opened at $2.22 on Wednesday. Rockwell Medical has a 52 week low of $1.16 and a 52 week high of $5.15. The company has a current ratio of 2.41, a quick ratio of 2.00 and a debt-to-equity ratio of 0.33. The stock has a market cap of $71.75 million, a P/E ratio of -44.40 and a beta of 1.50. The stock has a 50 day moving average of $3.43 and a 200-day moving average of $2.66.

Hedge Funds Weigh In On Rockwell Medical

Large investors have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC acquired a new stake in shares of Rockwell Medical during the third quarter worth $40,000. Verus Capital Partners LLC bought a new stake in shares of Rockwell Medical during the 3rd quarter valued at about $51,000. Barclays PLC acquired a new stake in Rockwell Medical during the third quarter worth about $90,000. Beacon Financial Advisory LLC bought a new position in Rockwell Medical in the third quarter worth about $98,000. Finally, XTX Topco Ltd boosted its stake in Rockwell Medical by 45.7% in the third quarter. XTX Topco Ltd now owns 28,455 shares of the company’s stock valued at $113,000 after acquiring an additional 8,922 shares during the period. 23.31% of the stock is currently owned by institutional investors.

About Rockwell Medical

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.