CorMedix (NASDAQ:CRMD) Trading 2.6% Higher – What’s Next?

CorMedix Inc (NASDAQ:CRMD) shot up 2.6% on Tuesday . The stock traded as high as $10.34 and last traded at $10.2440. 291,425 shares traded hands during trading, a decline of 87% from the average session volume of 2,331,350 shares. The stock had previously closed at $9.98.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. HC Wainwright boosted their target price on CorMedix from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Needham & Company LLC cut their price objective on CorMedix from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Zacks Research upgraded CorMedix from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $22.00 target price (up from $21.00) on shares of CorMedix in a research note on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CorMedix in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $18.33.

CorMedix Trading Up 1.2%

The business’s fifty day simple moving average is $11.33 and its 200 day simple moving average is $12.11. The stock has a market cap of $795.69 million, a price-to-earnings ratio of 13.39 and a beta of 1.80.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.78. The business had revenue of $2.73 million for the quarter, compared to analyst estimates of $65.63 million. CorMedix had a return on equity of 42.73% and a net margin of 42.11%.The firm’s revenue was up 810.2% on a year-over-year basis. During the same period last year, the company earned ($0.05) EPS. CorMedix has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, research analysts anticipate that CorMedix Inc will post -0.32 earnings per share for the current year.

Insider Activity at CorMedix

In related news, Director Myron Kaplan purchased 25,000 shares of the stock in a transaction dated Thursday, October 23rd. The stock was bought at an average cost of $11.02 per share, with a total value of $275,500.00. Following the purchase, the director directly owned 201,034 shares in the company, valued at $2,215,394.68. The trade was a 14.20% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Alan W. Dunton sold 10,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $13.13, for a total transaction of $131,300.00. Following the completion of the sale, the director owned 40,250 shares in the company, valued at $528,482.50. This represents a 19.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 163,997 shares of company stock worth $2,163,617. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CorMedix

Institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas bought a new position in CorMedix in the first quarter valued at approximately $98,000. Bank of New York Mellon Corp boosted its stake in CorMedix by 10.4% in the 1st quarter. Bank of New York Mellon Corp now owns 143,238 shares of the company’s stock worth $882,000 after purchasing an additional 13,543 shares during the period. Arizona State Retirement System bought a new position in CorMedix during the 1st quarter worth about $107,000. Sigma Planning Corp increased its holdings in CorMedix by 7.8% during the 1st quarter. Sigma Planning Corp now owns 36,305 shares of the company’s stock worth $224,000 after purchasing an additional 2,612 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of CorMedix by 427.1% in the 1st quarter. Private Advisor Group LLC now owns 85,509 shares of the company’s stock valued at $527,000 after purchasing an additional 69,285 shares during the period. Institutional investors own 34.18% of the company’s stock.

About CorMedix

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.