HC Wainwright Boosts Earnings Estimates for Rockwell Medical

Rockwell Medical, Inc. (NASDAQ:RMTI) – HC Wainwright increased their FY2024 earnings per share (EPS) estimates for Rockwell Medical in a research report issued to clients and investors on Monday, November 25th. HC Wainwright analyst R. Selvaraju now expects that the company will earn $0.03 per share for the year, up from their previous forecast of ($0.03). HC Wainwright has a “Buy” rating and a $7.00 price target on the stock. The consensus estimate for Rockwell Medical’s current full-year earnings is ($0.03) per share. HC Wainwright also issued estimates for Rockwell Medical’s Q4 2024 earnings at $0.02 EPS, Q1 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.03) EPS.

Several other equities research analysts have also commented on the stock. Rodman & Renshaw started coverage on shares of Rockwell Medical in a research note on Thursday, November 14th. They set a “buy” rating and a $5.00 price objective on the stock. RODMAN&RENSHAW upgraded Rockwell Medical to a “strong-buy” rating in a research note on Thursday, November 14th. Finally, StockNews.com lowered Rockwell Medical from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st.

Rockwell Medical Price Performance

NASDAQ:RMTI opened at $2.25 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average price is $3.46 and its 200-day moving average price is $2.66. Rockwell Medical has a 1-year low of $1.16 and a 1-year high of $5.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd increased its position in shares of Rockwell Medical by 45.7% during the third quarter. XTX Topco Ltd now owns 28,455 shares of the company’s stock valued at $113,000 after acquiring an additional 8,922 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Rockwell Medical in the 3rd quarter worth $40,000. Verus Capital Partners LLC bought a new stake in shares of Rockwell Medical in the 3rd quarter worth $51,000. State Street Corp raised its stake in shares of Rockwell Medical by 21.5% in the third quarter. State Street Corp now owns 95,004 shares of the company’s stock worth $377,000 after purchasing an additional 16,800 shares during the last quarter. Finally, Barclays PLC bought a new position in shares of Rockwell Medical during the third quarter valued at $90,000. 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.