HC Wainwright Issues Pessimistic Forecast for Rockwell Medical (NASDAQ:RMTI) Stock Price

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

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

Rockwell Medical Stock Down 3.6 %

NASDAQ RMTI opened at $1.35 on Monday. The stock has a 50 day moving average price of $1.85 and a 200-day moving average price of $2.60. Rockwell Medical has a one year low of $1.26 and a one year high of $5.15. The company has a market capitalization of $43.63 million, a P/E ratio of -27.00 and a beta of 1.55. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.00 and a current ratio of 2.41.

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

Hedge Funds Weigh In On Rockwell Medical

A number of large investors have recently made changes to their positions in RMTI. Raymond James Financial Inc. purchased a new stake in Rockwell Medical in the 4th quarter worth about $28,000. Two Sigma Securities LLC bought a new stake in shares of Rockwell Medical during the 4th quarter worth approximately $33,000. Barclays PLC boosted its holdings in 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 during the period. XTX Topco Ltd grew its position in Rockwell Medical by 58.0% in the 4th quarter. XTX Topco Ltd now owns 44,962 shares of the company’s stock valued at $92,000 after acquiring an additional 16,507 shares during the last quarter. Finally, LPL Financial LLC grew its position in Rockwell Medical by 91.3% in the 4th quarter. LPL Financial LLC now owns 54,872 shares of the company’s stock valued at $112,000 after acquiring an additional 26,191 shares during the last quarter. 23.31% of the stock is owned by hedge funds and other institutional investors.

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.