HC Wainwright Cuts Rockwell Medical (NASDAQ:RMTI) Price Target to $7.00

Rockwell Medical (NASDAQ:RMTI) had its price objective reduced by HC Wainwright from $9.00 to $7.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Rockwell Medical’s Q4 2024 earnings at $0.02 EPS, FY2024 earnings at $0.03 EPS, Q1 2025 earnings at ($0.02) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.01) EPS, Q4 2025 earnings at $0.01 EPS and FY2025 earnings at ($0.03) EPS.

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

Rockwell Medical Stock Performance

Shares of Rockwell Medical stock opened at $2.22 on Monday. The stock has a market capitalization of $71.75 million, a price-to-earnings ratio of -44.40 and a beta of 1.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 2.00. The business has a 50-day moving average of $3.43 and a 200 day moving average of $2.66. Rockwell Medical has a 12 month low of $1.16 and a 12 month high of $5.15.

Institutional Trading of Rockwell Medical

Institutional investors and hedge funds have recently made changes to their positions in the company. Armistice Capital LLC raised its position in Rockwell Medical by 22.5% in the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock valued at $5,670,000 after purchasing an additional 592,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Rockwell Medical by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock valued at $1,856,000 after buying an additional 43,302 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Rockwell Medical during the third quarter worth about $534,000. Walleye Capital LLC purchased a new position in shares of Rockwell Medical during the third quarter worth about $435,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Rockwell Medical by 877.1% during the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock worth $181,000 after buying an additional 92,189 shares during the last quarter. 23.31% of the stock is owned by hedge funds and other institutional investors.

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.