HC Wainwright Has Bullish Estimate for RMTI FY2024 Earnings

Rockwell Medical, Inc. (NASDAQ:RMTI) – Investment analysts at HC Wainwright increased their FY2024 EPS estimates for shares of Rockwell Medical in a report issued on Monday, November 25th. HC Wainwright analyst R. Selvaraju now anticipates that the company will earn $0.03 per share for the year, up from their previous forecast of ($0.03). HC Wainwright currently has a “Buy” rating and a $7.00 target price on the stock. The consensus estimate for Rockwell Medical’s current full-year earnings is ($0.03) per share. HC Wainwright also issued estimates for Rockwell Medical’s Q4 2024 earnings at $0.02 EPS, Q1 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.03) EPS.

A number of other research firms also recently issued reports on RMTI. RODMAN&RENSHAW raised Rockwell Medical to a “strong-buy” rating in a research report on Thursday, November 14th. StockNews.com downgraded shares of Rockwell Medical from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. 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 target on the stock.

Rockwell Medical Trading Down 1.3 %

RMTI stock opened at $2.22 on Wednesday. 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 company has a market cap of $71.75 million, a price-to-earnings ratio of -44.40 and a beta of 1.50. The business has a fifty day simple moving average of $3.43 and a 200-day simple moving average of $2.66. Rockwell Medical has a 52 week low of $1.16 and a 52 week high of $5.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RMTI. Vanguard Group Inc. grew its stake 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 in the last quarter. Armistice Capital LLC boosted its holdings in Rockwell Medical by 22.5% in the 2nd 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. Renaissance Technologies LLC grew its position in Rockwell Medical by 877.1% in the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after acquiring an additional 92,189 shares in the last quarter. Beacon Financial Advisory LLC purchased a new stake in shares of Rockwell Medical during the third quarter valued at approximately $98,000. Finally, Corsair Capital Management L.P. acquired a new position in shares of Rockwell Medical during the third quarter worth $298,000. Institutional investors and hedge funds own 23.31% of the company’s stock.

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.