Rockwell Medical (NASDAQ:RMTI) Price Target Cut to $3.00 by Analysts at HC Wainwright

Rockwell Medical (NASDAQ:RMTI) had its price target reduced by HC Wainwright from $7.00 to $3.00 in a report issued on Monday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Separately, StockNews.com downgraded Rockwell Medical from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

Rockwell Medical Stock Performance

NASDAQ:RMTI opened at $1.26 on Monday. The firm has a market capitalization of $40.72 million, a PE ratio of -25.20 and a beta of 1.55. Rockwell Medical has a 1 year low of $1.26 and a 1 year 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 firm’s fifty day simple moving average is $1.83 and its 200 day simple moving average is $2.59.

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

Institutional Investors Weigh In On Rockwell Medical

Several hedge funds have recently made changes to their positions in RMTI. Raymond James Financial Inc. bought a new position in Rockwell Medical during the fourth quarter valued at about $28,000. Two Sigma Securities LLC bought a new position in shares of Rockwell Medical during the 4th quarter worth about $33,000. Barclays PLC boosted its position in shares of Rockwell Medical by 27.5% during the 4th quarter. Barclays PLC now owns 28,854 shares of the company’s stock valued at $59,000 after acquiring an additional 6,229 shares in the last quarter. XTX Topco Ltd raised its position in Rockwell Medical by 58.0% in the fourth quarter. XTX Topco Ltd now owns 44,962 shares of the company’s stock worth $92,000 after purchasing an additional 16,507 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in Rockwell Medical by 91.3% during the fourth quarter. LPL Financial LLC now owns 54,872 shares of the company’s stock worth $112,000 after purchasing an additional 26,191 shares during the period. 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.