CorMedix Inc (NASDAQ:CRMD) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of CorMedix Inc (NASDAQ:CRMD) have been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $14.8571.

CRMD has been the subject of a number of research reports. Zacks Research upgraded shares of CorMedix from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings upgraded shares of CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 14th. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 price objective on shares of CorMedix in a report on Monday, April 27th. Needham & Company LLC lifted their price objective on shares of CorMedix from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Leerink Partners increased their target price on CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th.

CorMedix Price Performance

CRMD stock opened at $8.42 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 2.97. The company has a market capitalization of $660.55 million, a price-to-earnings ratio of 3.95 and a beta of 1.48. CorMedix has a fifty-two week low of $6.13 and a fifty-two week high of $14.96. The stock has a fifty day moving average of $8.32 and a 200-day moving average of $7.82.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. CorMedix had a return on equity of 45.57% and a net margin of 45.25%.The business had revenue of $127.43 million for the quarter, compared to analysts’ expectations of $104.96 million. During the same period in the previous year, the business posted $0.30 EPS. The firm’s quarterly revenue was up 226.1% compared to the same quarter last year. As a group, equities research analysts predict that CorMedix will post 0.51 earnings per share for the current year.

Institutional Trading of CorMedix

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Management Professionals Inc. bought a new position in CorMedix in the 4th quarter worth about $25,000. Comerica Bank increased its position in shares of CorMedix by 454.6% during the third quarter. Comerica Bank now owns 2,690 shares of the company’s stock valued at $31,000 after buying an additional 2,205 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of CorMedix in the second quarter worth about $42,000. Kestra Advisory Services LLC purchased a new stake in shares of CorMedix in the fourth quarter worth about $49,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of CorMedix by 666.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 4,385 shares of the company’s stock valued at $51,000 after acquiring an additional 3,813 shares during the period. 34.18% of the stock is currently owned by institutional investors.

CorMedix Company Profile

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.