HC Wainwright Reiterates “Buy” Rating for Rockwell Medical (NASDAQ:RMTI)

Rockwell Medical (NASDAQ:RMTI)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $7.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 225.58% from the stock’s current price.

Several other brokerages have also recently weighed in on RMTI. RODMAN&RENSHAW upgraded Rockwell Medical to a “strong-buy” rating in a research report on Thursday, November 14th. Rodman & Renshaw initiated coverage on shares of Rockwell Medical in a report on Thursday, November 14th. They set a “buy” rating and a $5.00 target price on the stock. Finally, StockNews.com downgraded shares of Rockwell Medical from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

Rockwell Medical Trading Up 1.9 %

NASDAQ:RMTI opened at $2.15 on Monday. The company has a market cap of $69.49 million, a P/E ratio of -43.00 and a beta of 1.38. 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 current ratio of 2.41 and a quick ratio of 2.00. The stock’s fifty day moving average price is $2.86 and its two-hundred day moving average price is $2.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMTI. Armistice Capital LLC boosted its holdings in shares of Rockwell Medical by 22.5% in the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock worth $5,670,000 after purchasing an additional 592,000 shares in the last quarter. Jane Street Group LLC bought a new stake in Rockwell Medical in the 3rd quarter worth approximately $534,000. Walleye Capital LLC purchased a new stake in Rockwell Medical in the third quarter worth approximately $435,000. Renaissance Technologies LLC grew its position in Rockwell Medical by 877.1% during the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after acquiring an additional 92,189 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Rockwell Medical by 21.5% during the third quarter. State Street Corp now owns 95,004 shares of the company’s stock worth $377,000 after acquiring an additional 16,800 shares in the last quarter. 23.31% of the stock is currently owned by hedge funds and other institutional investors.

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.