CorMedix (NASDAQ:CRMD) Price Target Raised to $14.00

CorMedix (NASDAQ:CRMD) had its target price upped by Needham & Company LLC from $12.00 to $14.00 in a report published on Tuesday, Marketbeat reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently weighed in on CRMD. Royal Bank Of Canada increased their price target on CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Weiss Ratings upgraded CorMedix from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Citigroup restated a “market outperform” rating on shares of CorMedix in a report on Tuesday. UBS Group set a $19.00 price objective on CorMedix in a research report on Tuesday. Finally, Oppenheimer initiated coverage on CorMedix in a research note on Wednesday, September 23rd. They issued an “outperform” rating and a $15.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, CorMedix has an average rating of “Moderate Buy” and a consensus target price of $15.44.

CorMedix Stock Performance

Shares of NASDAQ:CRMD opened at $4.84 on Tuesday. The company has a current ratio of 2.56, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31. CorMedix has a 12 month low of $4.82 and a 12 month high of $13.02. The company has a market capitalization of $377.23 million, a price-to-earnings ratio of 2.79, a PEG ratio of 0.99 and a beta of 1.48. The firm’s 50-day moving average is $7.25 and its 200 day moving average is $7.58.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Thursday, November 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). CorMedix had a return on equity of 40.52% and a net margin of 40.49%. The firm had revenue of $54.52 million during the quarter, compared to the consensus estimate of $51.76 million. Research analysts predict that CorMedix will post 0.54 EPS for the current year.

Hedge Funds Weigh In On CorMedix

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of CorMedix during the second quarter worth approximately $49,644,000. Bank of New York Mellon Corp purchased a new stake in shares of CorMedix in the second quarter valued at approximately $3,108,000. Pacer Advisors Inc. boosted its holdings in shares of CorMedix by 128.7% in the first quarter. Pacer Advisors Inc. now owns 580,620 shares of the company’s stock valued at $3,942,000 after purchasing an additional 326,724 shares during the period. First Trust Advisors LP boosted its holdings in shares of CorMedix by 609.2% in the third quarter. First Trust Advisors LP now owns 342,855 shares of the company’s stock valued at $2,640,000 after purchasing an additional 294,509 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of CorMedix by 150.6% in 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. 34.18% of the stock is currently owned by institutional investors.

Latest CorMedix News

Investors following CRMD have been watching these news items:

• Positive Sentiment: CorMedix reported Q3 revenue of $54.5 million, above the $51.8 million consensus estimate. The company also reported adjusted EBITDA of $3.1 million. Company results and business update
• Positive Sentiment: Management expects the Heron assets to contribute $125 million–$150 million in pro forma 2027 revenue and sees $45 million–$60 million in annual synergies—potentially strengthening the company’s scale and earnings outlook. Heron revenue and synergy expectations
• Negative Sentiment: Reported GAAP loss was $0.19 per share, wider than the $0.12 consensus loss, and the company posted a $14.7 million net loss. Another report using a different earnings measure showed a $0.04 loss per share versus a $0.09 expected loss; the differing figures may reflect adjusted versus reported results. The reported miss and net loss are likely weighing on the stock. Quarterly earnings report

CorMedix Company Profile

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.