CorMedix (NASDAQ:CRMD) Cut to “Sell” at Wall Street Zen

CorMedix (NASDAQ:CRMD) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

Other analysts have also recently issued reports about the stock. Needham & Company LLC increased their target price on shares of CorMedix from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group set a $19.00 price target on shares of CorMedix in a report on Tuesday. Oppenheimer reaffirmed an “outperform” rating and set a $13.00 price objective (down from $15.00) on shares of CorMedix in a research report on Friday. Citigroup reissued a “market outperform” rating on shares of CorMedix in a report on Tuesday. Finally, Weiss Ratings downgraded CorMedix from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.22.

CorMedix Trading Down 3.7%

Shares of NASDAQ CRMD opened at $4.66 on Friday. The company has a quick ratio of 2.36, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $7.18 and its two-hundred day moving average price is $7.57. CorMedix has a 52-week low of $4.65 and a 52-week high of $13.02. The stock has a market capitalization of $363.20 million, a P/E ratio of 3.75, a PEG ratio of 0.90 and a beta of 1.48.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Thursday, November 12th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). The firm had revenue of $54.52 million during the quarter, compared to the consensus estimate of $51.76 million. CorMedix had a net margin of 15.49% and a return on equity of 27.12%. On average, analysts anticipate that CorMedix will post 0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of CorMedix during the second quarter worth approximately $49,644,000. Marshall Wace LLP grew its stake in shares of CorMedix by 53.4% in the third quarter. Marshall Wace LLP now owns 1,195,422 shares of the company’s stock worth $9,205,000 after purchasing an additional 415,887 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of CorMedix by 128.7% in the first quarter. Pacer Advisors Inc. now owns 580,620 shares of the company’s stock worth $3,942,000 after purchasing an additional 326,724 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of CorMedix by 150.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 438,629 shares of the company’s stock valued at $3,443,000 after purchasing an additional 263,618 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of CorMedix during the second quarter valued at $3,108,000. 34.18% of the stock is owned by institutional investors and hedge funds.

Recent CorMedix Headlines

Here are a few of the latest headlines about CRMD:

• Positive Sentiment: The planned Heron asset acquisition could add an estimated $125 million–$150 million in pro forma 2027 revenue, with management targeting $45 million–$60 million in annual synergies. Heron assets and synergy outlook
• Neutral Sentiment: Oppenheimer reaffirmed its “outperform” rating but lowered its price target to $13 from $15. The lower target is a downgrade to its outlook, though it remains well above the share price cited in the report. Oppenheimer ratings
• Negative Sentiment: DefenCath pricing pressure is weighing on sales expectations, despite the quarterly revenue beat. CorMedix reported a $14.7 million net loss, and coverage described the earnings result as disappointing; progress with Rezzayo and the Heron transaction are part of the company’s longer-term outlook. Zacks coverage of quarterly results and pricing pressure

About CorMedix

CorMedix Inc. is a biopharmaceutical company focused on products for infectious and inflammatory diseases. Its lead product, DefenCath, is an antimicrobial catheter-lock solution containing taurolidine and heparin. The U.S. Food and Drug Administration approved it to reduce catheter-related bloodstream infections in adults with kidney failure who receive chronic hemodialysis through a central venous catheter. CorMedix expanded its business in 2024 by acquiring Melinta Therapeutics, adding marketed antibiotics to its portfolio.