HC Wainwright Cuts Rockwell Medical (NASDAQ:RMTI) Price Target to $3.00

Rockwell Medical (NASDAQ:RMTI) had its target price reduced by research analysts at HC Wainwright from $7.00 to $3.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 122.22% from the company’s current price.

Separately, StockNews.com cut shares of Rockwell Medical from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

Rockwell Medical Trading Down 3.6 %

NASDAQ:RMTI opened at $1.35 on Monday. Rockwell Medical has a one year low of $1.26 and a one year high of $5.15. The business has a fifty day moving average price of $1.85 and a 200-day moving average price of $2.60. The firm has a market capitalization of $43.63 million, a price-to-earnings ratio of -27.00 and a beta of 1.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 2.00.

Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Rockwell Medical had a positive return on equity of 8.55% and a negative net margin of 1.25%. The company had revenue of $24.67 million during the quarter, compared to analysts’ expectations of $23.65 million. Sell-side analysts forecast that Rockwell Medical will post 0.03 EPS for the current year.

Hedge Funds Weigh In On Rockwell Medical

A number of hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in Rockwell Medical in the 4th quarter worth approximately $28,000. Two Sigma Securities LLC bought a new stake in shares of Rockwell Medical during the fourth quarter valued at approximately $33,000. Barclays PLC bought a new stake in shares of Rockwell Medical during the third quarter valued at approximately $90,000. XTX Topco Ltd lifted its holdings in shares of Rockwell Medical by 45.7% in the third quarter. XTX Topco Ltd now owns 28,455 shares of the company’s stock worth $113,000 after buying an additional 8,922 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Rockwell Medical by 134,397.1% during the third quarter. JPMorgan Chase & Co. now owns 47,074 shares of the company’s stock worth $187,000 after acquiring an additional 47,039 shares during the last quarter. Institutional investors own 23.31% of the company’s stock.

Rockwell Medical Company Profile

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.