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

Rockwell Medical (NASDAQ:RMTI) had its price target lowered by HC Wainwright from $9.00 to $7.00 in a research note published on Monday morning,Benzinga reports. The firm currently has 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.

RMTI has been the topic of several other reports. RODMAN&RENSHAW upgraded Rockwell Medical to a “strong-buy” rating in a research note on Thursday, November 14th. Rodman & Renshaw initiated coverage on Rockwell Medical in a research note on Thursday, November 14th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, StockNews.com lowered Rockwell Medical from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st.

Rockwell Medical Stock Performance

NASDAQ RMTI opened at $2.22 on Monday. Rockwell Medical has a twelve month low of $1.16 and a twelve month high of $5.15. 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 stock has a market cap of $71.75 million, a P/E ratio of -44.40 and a beta of 1.50. The company’s 50-day simple moving average is $3.39 and its 200 day simple moving average is $2.65.

Hedge Funds Weigh In On Rockwell Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC acquired a new stake in shares of Rockwell Medical during the third quarter worth approximately $90,000. XTX Topco Ltd increased its holdings in Rockwell Medical by 45.7% during the 3rd quarter. XTX Topco Ltd now owns 28,455 shares of the company’s stock valued at $113,000 after purchasing an additional 8,922 shares in the last quarter. Jane Street Group LLC bought a new position in Rockwell Medical in the 3rd quarter valued at $534,000. State Street Corp raised its position in Rockwell Medical by 21.5% in the 3rd quarter. State Street Corp now owns 95,004 shares of the company’s stock valued at $377,000 after purchasing an additional 16,800 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in Rockwell Medical by 75.6% in the third quarter. HighTower Advisors LLC now owns 57,413 shares of the company’s stock worth $228,000 after purchasing an additional 24,715 shares in the last quarter. 23.31% of the stock is currently owned by institutional investors and hedge funds.

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.