CorMedix (NASDAQ:CRMD) Releases Quarterly Earnings Results

CorMedix (NASDAQ:CRMD) issued its quarterly earnings data on Tuesday. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05, Zacks reports. During the same quarter in the previous year, the company posted ($0.25) earnings per share.

CorMedix Price Performance

Shares of CorMedix stock traded up $1.54 during trading on Tuesday, hitting $10.57. 922,374 shares of the stock were exchanged, compared to its average volume of 1,050,703. The firm’s 50-day moving average price is $8.60 and its 200 day moving average price is $9.75. The stock has a market cap of $716.75 million, a price-to-earnings ratio of -13.08 and a beta of 1.54. CorMedix has a 12-month low of $3.61 and a 12-month high of $13.85.

Analyst Ratings Changes

Several brokerages have recently commented on CRMD. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price objective on shares of CorMedix in a report on Wednesday, March 26th. Leerink Partnrs upgraded CorMedix to a “strong-buy” rating in a research note on Friday, March 7th. D. Boral Capital restated a “buy” rating and set a $15.00 target price on shares of CorMedix in a research report on Tuesday, April 8th. Needham & Company LLC reissued a “buy” rating and issued a $12.00 price target on shares of CorMedix in a research note on Wednesday, April 9th. Finally, Leerink Partners began coverage on CorMedix in a research note on Friday, March 7th. They issued an “outperform” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $14.50.

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.