Rockwell Medical (NASDAQ:RMTI) Price Target Cut to $7.00 by Analysts at HC Wainwright

Rockwell Medical (NASDAQ:RMTI) had its price target cut by HC Wainwright from $9.00 to $7.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently issued reports on RMTI. Rodman & Renshaw assumed coverage on shares of Rockwell Medical in a research note on Thursday, November 14th. They issued a “buy” rating and a $5.00 price target on the stock. RODMAN&RENSHAW raised shares of Rockwell Medical to a “strong-buy” rating in a research note on Thursday, November 14th. Finally, StockNews.com downgraded shares of Rockwell Medical from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st.

Rockwell Medical Price Performance

Rockwell Medical stock opened at $2.31 on Monday. The company’s 50 day simple moving average is $3.53 and its 200-day simple moving average is $2.65. The company has a market capitalization of $74.66 million, a price-to-earnings ratio of -47.20 and a beta of 1.50. Rockwell Medical has a 1 year low of $1.16 and a 1 year high of $5.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.00 and a current ratio of 2.41.

Institutional Investors Weigh In On Rockwell Medical

Several large investors have recently added to or reduced their stakes in the business. Armistice Capital LLC increased its stake in Rockwell Medical by 22.5% during the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock worth $5,670,000 after buying an additional 592,000 shares during the period. Vanguard Group Inc. increased its stake in Rockwell Medical by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock worth $1,856,000 after buying an additional 43,302 shares during the period. Jane Street Group LLC purchased a new stake in Rockwell Medical during the 3rd quarter worth approximately $534,000. Walleye Capital LLC purchased a new stake in Rockwell Medical during the 3rd quarter worth approximately $435,000. Finally, Renaissance Technologies LLC increased its stake in Rockwell Medical by 877.1% during the 2nd quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock worth $181,000 after buying an additional 92,189 shares during the period. 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.