Rockwell Medical (NASDAQ:RMTI) Price Target Cut to $9.00

Rockwell Medical (NASDAQ:RMTI) had its target price reduced by HC Wainwright from $11.00 to $9.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Rockwell Medical’s Q1 2024 earnings at ($0.05) EPS, Q2 2024 earnings at ($0.03) EPS, Q3 2024 earnings at ($0.02) EPS, Q4 2024 earnings at ($0.01) EPS and FY2025 earnings at $0.06 EPS.

Rockwell Medical Trading Up 1.2 %

Shares of Rockwell Medical stock opened at $1.66 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.38. Rockwell Medical has a 1 year low of $1.16 and a 1 year high of $6.24. The company has a market capitalization of $48.69 million, a P/E ratio of -4.15 and a beta of 1.16. The business has a 50 day moving average price of $1.41 and a 200 day moving average price of $1.71.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RMTI. Jane Street Group LLC acquired a new position in shares of Rockwell Medical during the 3rd quarter worth approximately $28,000. Great Valley Advisor Group Inc. acquired a new position in shares of Rockwell Medical during the 3rd quarter worth approximately $37,000. Osaic Holdings Inc. grew its stake in Rockwell Medical by 205.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,583 shares of the company’s stock worth $42,000 after acquiring an additional 5,100 shares during the period. WealthTrust Axiom LLC purchased a new stake in Rockwell Medical in the 3rd quarter worth approximately $44,000. Finally, Millennium Management LLC grew its stake in Rockwell Medical by 66.7% in the 4th quarter. Millennium Management LLC now owns 53,044 shares of the company’s stock worth $54,000 after acquiring an additional 21,225 shares during the period. 23.31% of the stock is currently owned by institutional investors and hedge funds.

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.