$50,000.00 in Sales Expected for CorMedix Inc. (NYSEAMERICAN:CRMD) This Quarter


Share on StockTwits

Brokerages predict that CorMedix Inc. (NYSEAMERICAN:CRMD) will post sales of $50,000.00 for the current quarter, according to Zacks. Three analysts have made estimates for CorMedix’s earnings, with estimates ranging from $40,000.00 to $70,000.00. CorMedix posted sales of $30,000.00 during the same quarter last year, which would indicate a positive year over year growth rate of 66.7%. The company is expected to report its next earnings report on Monday, March 15th.

On average, analysts expect that CorMedix will report full year sales of $230,000.00 for the current financial year, with estimates ranging from $220,000.00 to $250,000.00. For the next financial year, analysts expect that the business will report sales of $11.24 million, with estimates ranging from $2.51 million to $20.34 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover CorMedix.

CorMedix (NYSEAMERICAN:CRMD) last released its quarterly earnings data on Thursday, November 5th. The biotechnology company reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.04. CorMedix had a negative net margin of 10,214.42% and a negative return on equity of 86.52%. The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.04 million.

CRMD has been the subject of several analyst reports. JMP Securities initiated coverage on shares of CorMedix in a report on Tuesday, September 29th. They issued a “market outperform” rating and a $22.00 price target for the company. Truist initiated coverage on shares of CorMedix in a report on Monday, September 21st. They issued a “buy” rating and a $20.00 price target for the company. HC Wainwright reissued a “buy” rating on shares of CorMedix in a report on Thursday, November 19th. Zacks Investment Research raised shares of CorMedix from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a report on Monday. Finally, BidaskClub upgraded shares of CorMedix from a “hold” rating to a “buy” rating in a research report on Saturday. Six research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $14.75.

NYSEAMERICAN:CRMD traded down $0.12 during trading hours on Wednesday, hitting $8.63. The stock had a trading volume of 229,846 shares, compared to its average volume of 429,281. The company has a 50 day simple moving average of $7.89 and a two-hundred day simple moving average of $6.80. CorMedix has a one year low of $2.16 and a one year high of $9.42. The firm has a market capitalization of $277.30 million, a price-to-earnings ratio of -11.06 and a beta of 2.71.

Several institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System boosted its holdings in CorMedix by 210.7% in the second quarter. California Public Employees Retirement System now owns 52,200 shares of the biotechnology company’s stock valued at $329,000 after purchasing an additional 35,400 shares in the last quarter. Bank of America Corp DE raised its position in CorMedix by 74.5% during the second quarter. Bank of America Corp DE now owns 27,915 shares of the biotechnology company’s stock valued at $177,000 after buying an additional 11,914 shares during the period. Private Advisor Group LLC raised its position in CorMedix by 10.6% during the second quarter. Private Advisor Group LLC now owns 26,189 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 2,520 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in CorMedix during the second quarter valued at $74,000. Finally, Charles Schwab Investment Management Inc. raised its position in CorMedix by 5.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 62,952 shares of the biotechnology company’s stock valued at $397,000 after buying an additional 3,060 shares during the period. Hedge funds and other institutional investors own 25.91% of the company’s stock.

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 and internationally. It primarily focuses on the development of its lead product candidate, Neutrolin, an anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as hemodialysis, critical/intensive care, and oncology.

Recommended Story: Rule of 72

Get a free copy of the Zacks research report on CorMedix (CRMD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CorMedix (NYSEAMERICAN:CRMD)

Receive News & Ratings for CorMedix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CorMedix and related companies with MarketBeat.com's FREE daily email newsletter.