Rockwell Medical (NASDAQ:RMTI) Price Target Cut to $2.50 by Analysts at HC Wainwright

Rockwell Medical (NASDAQ:RMTI) had its price objective reduced by investment analysts at HC Wainwright from $3.00 to $2.50 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 171.15% from the stock’s previous close.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Rockwell Medical in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $3.75.

Rockwell Medical Stock Down 3.5%

RMTI stock traded down $0.03 during mid-day trading on Thursday, reaching $0.92. The company had a trading volume of 268,312 shares, compared to its average volume of 627,199. Rockwell Medical has a fifty-two week low of $0.78 and a fifty-two week high of $2.67. The company has a market capitalization of $31.74 million, a price-to-earnings ratio of -15.37 and a beta of 1.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.51 and a current ratio of 2.89. The firm has a fifty day simple moving average of $1.26 and a 200 day simple moving average of $1.13.

Rockwell Medical (NASDAQ:RMTI) last issued its earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $16.07 million for the quarter, compared to analysts’ expectations of $16.33 million. Rockwell Medical had a negative net margin of 2.38% and a negative return on equity of 6.79%. Analysts forecast that Rockwell Medical will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rockwell Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Rockwell Medical by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,354,147 shares of the company’s stock valued at $1,625,000 after purchasing an additional 148,737 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of Rockwell Medical by 635.1% in the 3rd quarter. GSA Capital Partners LLP now owns 163,978 shares of the company’s stock valued at $197,000 after acquiring an additional 141,672 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in Rockwell Medical during the 2nd quarter worth $41,000. Institutional investors and hedge funds 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.