Rockwell Medical (NASDAQ:RMTI) Given New $7.00 Price Target at HC Wainwright

Rockwell Medical (NASDAQ:RMTI) had its price objective decreased by equities research analysts at HC Wainwright from $9.00 to $7.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 211.11% from the stock’s current price.

A number of other analysts have also recently commented on the stock. RODMAN&RENSHAW upgraded shares of Rockwell Medical to a “strong-buy” rating in a report on Thursday, November 14th. StockNews.com cut Rockwell Medical from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Rodman & Renshaw began coverage on shares of Rockwell Medical in a research report on Thursday, November 14th. They issued a “buy” rating and a $5.00 target price for the company.

Rockwell Medical Trading Up 2.3 %

NASDAQ:RMTI opened at $2.25 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $72.72 million, a P/E ratio of -45.00 and a beta of 1.50. Rockwell Medical has a 52 week low of $1.16 and a 52 week high of $5.15. The company has a fifty day moving average of $3.53 and a 200 day moving average of $2.65.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Rockwell Medical by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock valued at $1,856,000 after purchasing an additional 43,302 shares during the period. Renaissance Technologies LLC lifted 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 purchasing an additional 92,189 shares during the period. Armistice Capital LLC increased its stake in shares of Rockwell Medical by 22.5% in the second quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock worth $5,670,000 after acquiring an additional 592,000 shares during the period. Beacon Financial Advisory LLC acquired a new stake in Rockwell Medical during the 3rd quarter worth about $98,000. Finally, Concurrent Investment Advisors LLC purchased a new position in Rockwell Medical during the third quarter valued at approximately $40,000. Institutional investors own 23.31% of the company’s stock.

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.