CorMedix (NASDAQ:CRMD) Upgraded to Sell at StockNews.com

CorMedix (NASDAQ:CRMD) was upgraded by research analysts at StockNews.com to a “sell” rating in a report released on Friday.

A number of other research analysts have also recently commented on CRMD. Needham & Company LLC raised their price target on CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and issued a $9.00 price target on shares of CorMedix in a research report on Thursday, August 15th. Truist Financial raised their price target on CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Rodman & Renshaw initiated coverage on CorMedix in a research report on Monday, August 26th. They issued a “buy” rating and a $13.00 target price on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, CorMedix currently has an average rating of “Moderate Buy” and an average target price of $15.20.

CorMedix Stock Performance

CRMD opened at $10.63 on Friday. CorMedix has a fifty-two week low of $2.57 and a fifty-two week high of $13.85. The company has a market capitalization of $645.03 million, a P/E ratio of -13.12 and a beta of 1.58. The stock has a fifty day moving average of $8.87 and a 200-day moving average of $6.27.

CorMedix (NASDAQ:CRMD) last posted its earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $11.46 million for the quarter, compared to analyst estimates of $11.00 million. During the same period in the prior year, the business posted ($0.17) EPS. On average, equities research analysts predict that CorMedix will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of CorMedix

A number of hedge funds have recently made changes to their positions in the company. Sigma Planning Corp boosted its stake in shares of CorMedix by 23.8% during the third quarter. Sigma Planning Corp now owns 39,947 shares of the company’s stock valued at $323,000 after purchasing an additional 7,679 shares in the last quarter. Palumbo Wealth Management LLC acquired a new position in shares of CorMedix in the third quarter worth approximately $100,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of CorMedix by 10.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 52,184 shares of the company’s stock worth $422,000 after acquiring an additional 4,935 shares during the period. AlphaMark Advisors LLC acquired a new position in shares of CorMedix in the third quarter worth approximately $97,000. Finally, Creative Planning acquired a new position in CorMedix in the third quarter valued at approximately $129,000. 34.18% of the stock is owned by institutional investors and hedge funds.

About CorMedix

CorMedix Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.