CorMedix Inc (NASDAQ:CRMD) Stock Has Consensus Price Target of $15.00

CorMedix Inc (NASDAQ:CRMD) has been given a consensus rating of “Moderate Buy” by the nine analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $15.00.

A number of research firms have issued reports on CRMD. Oppenheimer assumed coverage on shares of CorMedix in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $15.00 price target for the company. Royal Bank Of Canada boosted their price target on CorMedix from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of CorMedix in a research report on Monday, October 19th. Finally, Weiss Ratings upgraded shares of CorMedix from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th.

CorMedix Stock Performance

CRMD opened at $5.70 on Wednesday. The company has a market cap of $444.26 million, a P/E ratio of 4.02, a price-to-earnings-growth ratio of 1.41 and a beta of 1.40. 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 firm’s 50-day moving average price is $7.80 and its 200-day moving average price is $7.66. CorMedix has a 52-week low of $5.63 and a 52-week high of $13.02.

CorMedix (NASDAQ:CRMD) last released its earnings results on Thursday, August 13th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The company had revenue of $101.93 million during the quarter, compared to analysts’ expectations of $96.04 million. CorMedix had a net margin of 40.49% and a return on equity of 40.52%. As a group, equities analysts anticipate that CorMedix will post 0.54 EPS for the current fiscal year.

Institutional Trading of CorMedix

Large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CorMedix during the 3rd quarter valued at about $31,000. Profund Advisors LLC boosted its position in CorMedix by 458.2% in the 3rd quarter. Profund Advisors LLC now owns 127,465 shares of the company’s stock worth $981,000 after purchasing an additional 104,629 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in CorMedix by 13.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,222 shares of the company’s stock worth $113,000 after purchasing an additional 1,736 shares in the last quarter. Sigma Planning Corp boosted its position in CorMedix by 8.5% in the 3rd quarter. Sigma Planning Corp now owns 32,142 shares of the company’s stock worth $247,000 after purchasing an additional 2,531 shares in the last quarter. Finally, WINTON GROUP Ltd grew its stake in shares of CorMedix by 69.7% during the 2nd quarter. WINTON GROUP Ltd now owns 65,061 shares of the company’s stock worth $511,000 after purchasing an additional 26,723 shares during the period. 34.18% of the stock is owned by hedge funds and other institutional investors.

About CorMedix

CorMedix Inc is a biopharmaceutical company focused on developing and commercializing products designed to prevent and treat life-threatening infections and inflammatory conditions. The company’s lead product is DefenCath, a catheter-lock solution containing taurolidine and citrate.

DefenCath is approved by the U.S. Food and Drug Administration for use in adult patients with kidney failure who are receiving chronic hemodialysis through a central venous catheter. It is intended to reduce the risk of catheter-related bloodstream infections, a significant complication for patients who depend on long-term vascular access.