Rockwell Medical (NASDAQ:RMTI) Price Target Lowered to $3.00 at HC Wainwright

Rockwell Medical (NASDAQ:RMTI) had its target price reduced by HC Wainwright from $7.00 to $3.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

Separately, StockNews.com downgraded shares of Rockwell Medical from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

Rockwell Medical Price Performance

Shares of NASDAQ:RMTI opened at $1.26 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.00 and a current ratio of 2.41. The company has a market capitalization of $40.72 million, a PE ratio of -25.20 and a beta of 1.55. The stock has a fifty day moving average of $1.83 and a 200-day moving average of $2.59. Rockwell Medical has a one year low of $1.26 and a one year high of $5.15.

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

Institutional Investors Weigh In On Rockwell Medical

A number of institutional investors have recently bought and sold shares of RMTI. Renaissance Technologies LLC boosted its stake in shares of Rockwell Medical by 285.8% during the 4th quarter. Renaissance Technologies LLC now owns 442,350 shares of the company’s stock valued at $902,000 after buying an additional 327,678 shares during the period. Jane Street Group LLC purchased a new stake in shares of Rockwell Medical during the 3rd quarter worth about $534,000. Walleye Capital LLC acquired a new stake in shares of Rockwell Medical during the 3rd quarter valued at about $435,000. Marshall Wace LLP grew its stake in shares of Rockwell Medical by 17.2% in the 4th quarter. Marshall Wace LLP now owns 596,359 shares of the company’s stock valued at $1,217,000 after buying an additional 87,685 shares in the last quarter. Finally, Corsair Capital Management L.P. acquired a new position in Rockwell Medical in the third quarter worth approximately $298,000. 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.