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

Rockwell Medical (NASDAQ:RMTI) had its price objective lowered by equities research analysts at HC Wainwright from $9.00 to $7.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 211.11% from the company’s previous close.

Several other research analysts have also commented on the company. RODMAN&RENSHAW raised Rockwell Medical to a “strong-buy” rating in a research report on Thursday, November 14th. Rodman & Renshaw started coverage on Rockwell Medical in a research report on Thursday, November 14th. They set a “buy” rating and a $5.00 target price on the stock. Finally, StockNews.com cut shares of Rockwell Medical from a “buy” rating to a “hold” rating in a research note on Thursday.

Rockwell Medical Trading Up 2.3 %

NASDAQ RMTI opened at $2.25 on Monday. Rockwell Medical has a 12 month low of $1.16 and a 12 month high of $5.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 2.00. The firm’s 50-day moving average is $3.53 and its two-hundred day moving average is $2.65. The stock has a market capitalization of $72.72 million, a P/E ratio of -45.00 and a beta of 1.50.

Hedge Funds Weigh In On Rockwell Medical

Several large investors have recently modified their holdings of RMTI. Concurrent Investment Advisors LLC bought a new stake in Rockwell Medical in the third quarter valued at $40,000. Verus Capital Partners LLC bought a new position in shares of Rockwell Medical during the 3rd quarter valued at about $51,000. Barclays PLC acquired a new position in Rockwell Medical in the third quarter worth approximately $90,000. Beacon Financial Advisory LLC acquired a new position in shares of Rockwell Medical in the 3rd quarter worth $98,000. Finally, XTX Topco Ltd increased its position in shares of Rockwell Medical by 45.7% in the third quarter. XTX Topco Ltd now owns 28,455 shares of the company’s stock worth $113,000 after acquiring an additional 8,922 shares in the last quarter. Institutional investors own 23.31% of the company’s stock.

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.