CorMedix Inc. (NASDAQ:CRMD) Given Consensus Recommendation of “Buy” by Analysts

Shares of CorMedix Inc. (NASDAQ:CRMD) have been given a consensus rating of “Buy” by the six research firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $15.67.

Several analysts have issued reports on the stock. Needham & Company LLC boosted their target price on shares of CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada boosted their target price on shares of CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. D. Boral Capital reissued a “buy” rating and set a $15.00 target price on shares of CorMedix in a research note on Wednesday. Truist Financial boosted their target price on shares of CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com raised shares of CorMedix to a “sell” rating in a research note on Friday, November 8th.

Insider Transactions at CorMedix

In related news, EVP Elizabeth Hurlburt sold 140,027 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $11.18, for a total value of $1,565,501.86. Following the completion of the sale, the executive vice president now directly owns 45,397 shares in the company, valued at approximately $507,538.46. This represents a 75.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 5.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CorMedix

A number of large investors have recently bought and sold shares of CRMD. FMR LLC boosted its holdings in CorMedix by 54.3% in the third quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after purchasing an additional 1,625 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in CorMedix during the fourth quarter valued at about $81,000. AlphaMark Advisors LLC bought a new stake in CorMedix during the third quarter valued at about $97,000. BNP Paribas Financial Markets boosted its holdings in CorMedix by 130.3% during the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock valued at $97,000 after acquiring an additional 6,761 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in CorMedix by 13.2% during the second quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock valued at $100,000 after acquiring an additional 2,700 shares during the period. 34.18% of the stock is currently owned by institutional investors.

CorMedix Stock Performance

Shares of NASDAQ:CRMD opened at $12.30 on Thursday. CorMedix has a one year low of $2.89 and a one year high of $13.85. The stock has a fifty day moving average of $9.78 and a 200-day moving average of $8.12. The company has a market capitalization of $746.36 million, a PE ratio of -15.18 and a beta of 1.56.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $11.46 million for the quarter, compared to analyst estimates of $11.00 million. During the same quarter last year, the company posted ($0.17) EPS. As a group, research analysts forecast that CorMedix will post -0.32 EPS for the current fiscal year.

CorMedix Company Profile

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.