Rockwell Medical (NASDAQ:RMTI) Price Target Lowered to $2.00 at HC Wainwright

Rockwell Medical (NASDAQ:RMTI) had its target price trimmed by HC Wainwright from $2.50 to $2.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on RMTI. Wall Street Zen upgraded shares of Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Rockwell Medical in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.00.

Rockwell Medical Trading Down 2.3%

NASDAQ RMTI opened at $0.85 on Monday. The business’s fifty day moving average is $1.01 and its 200-day moving average is $1.04. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.63. The stock has a market capitalization of $33.50 million, a price-to-earnings ratio of -5.67 and a beta of 1.71. Rockwell Medical has a one year low of $0.78 and a one year high of $2.10.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.05). Rockwell Medical had a negative net margin of 7.67% and a negative return on equity of 15.64%. The company had revenue of $18.35 million for the quarter, compared to the consensus estimate of $18.58 million. Equities research analysts predict that Rockwell Medical will post 0.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RMTI. Panagora Asset Management Inc. bought a new position in Rockwell Medical in the 2nd quarter worth approximately $41,000. XTX Topco Ltd raised its holdings in Rockwell Medical by 286.5% during the 4th quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock valued at $52,000 after acquiring an additional 46,029 shares during the period. Jane Street Group LLC purchased a new stake in shares of Rockwell Medical during the fourth quarter worth $84,000. GSA Capital Partners LLP lifted its position in shares of Rockwell Medical by 635.1% during the third quarter. GSA Capital Partners LLP now owns 163,978 shares of the company’s stock worth $197,000 after acquiring an additional 141,672 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Rockwell Medical by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock worth $304,000 after acquiring an additional 41,668 shares during the period. 23.31% of the stock is owned by institutional investors.

About Rockwell Medical

Rockwell Medical, Inc is a Delaware‐domiciled biopharmaceutical company focused on the development and commercialization of therapies for patients with chronic kidney disease (CKD). The company’s mission centers on addressing common complications in CKD—namely iron deficiency and secondary hyperparathyroidism—through innovative treatment approaches designed for dialysis settings.

The company’s lead product, TRIFERIC®, is an iron replacement therapy approved by the U.S. Food and Drug Administration for use in hemodialysis patients.