CorMedix (NASDAQ:CRMD) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

CorMedix (NASDAQ:CRMD) released its quarterly earnings data on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05, Briefing.com reports. The business had revenue of $30.00 million during the quarter, compared to the consensus estimate of $27.46 million. The firm’s revenue was up 29900.0% on a year-over-year basis.

CorMedix Stock Performance

Shares of CRMD stock opened at $7.16 on Thursday. The company has a 50 day moving average price of $10.66 and a 200 day moving average price of $9.90. The firm has a market capitalization of $434.45 million, a price-to-earnings ratio of -8.84 and a beta of 1.53. CorMedix has a one year low of $3.61 and a one year high of $13.85.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CRMD shares. Leerink Partnrs raised shares of CorMedix to a “strong-buy” rating in a report on Friday, March 7th. Leerink Partners initiated coverage on shares of CorMedix in a research report on Friday, March 7th. They issued an “outperform” rating and a $18.00 price target for the company. D. Boral Capital reissued a “buy” rating and issued a $15.00 price objective on shares of CorMedix in a research report on Tuesday. Needham & Company LLC cut their price target on CorMedix from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 price objective on shares of CorMedix in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $15.14.

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.