CorMedix (NASDAQ:CRMD) Upgraded at D Boral Capital

D Boral Capital upgraded shares of CorMedix (NASDAQ:CRMD) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

Several other research firms have also weighed in on CRMD. JMP Securities reiterated a “market outperform” rating and issued a $22.00 target price on shares of CorMedix in a report on Tuesday, September 9th. HC Wainwright decreased their target price on shares of CorMedix from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Needham & Company LLC boosted their target price on shares of CorMedix from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 24th. Wall Street Zen lowered shares of CorMedix from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. Finally, Zacks Research lowered shares of CorMedix from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $18.83.

CorMedix Trading Down 3.9%

CRMD opened at $11.20 on Monday. The firm has a market capitalization of $874.27 million, a PE ratio of 14.93 and a beta of 1.85. The firm’s 50-day moving average price is $12.21 and its 200 day moving average price is $11.61. CorMedix has a twelve month low of $5.60 and a twelve month high of $17.43.

CorMedix (NASDAQ:CRMD) last posted its earnings results on Thursday, August 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.08. The company had revenue of $39.74 million for the quarter, compared to analyst estimates of $29.88 million. CorMedix had a net margin of 42.11% and a return on equity of 42.73%. CorMedix’s revenue was up 4830.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.25) EPS. As a group, analysts predict that CorMedix will post -0.32 earnings per share for the current fiscal year.

Insider Activity at CorMedix

In other news, COO Elizabeth Hurlburt sold 41,121 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $13.08, for a total value of $537,862.68. Following the transaction, the chief operating officer directly owned 176,990 shares in the company, valued at approximately $2,315,029.20. This represents a 18.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Todisco sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $13.00, for a total transaction of $650,000.00. Following the completion of the transaction, the chief executive officer owned 509,496 shares in the company, valued at approximately $6,623,448. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,997 shares of company stock valued at $2,163,617. 5.30% of the stock is owned by insiders.

Institutional Investors Weigh In On CorMedix

Large investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board purchased a new stake in CorMedix during the 2nd quarter worth approximately $42,000. SBI Securities Co. Ltd. increased its stake in CorMedix by 699.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 8,685 shares of the company’s stock worth $54,000 after buying an additional 7,599 shares during the period. USA Financial Formulas purchased a new stake in CorMedix during the 2nd quarter worth approximately $55,000. Essex Financial Services Inc. purchased a new stake in CorMedix during the 1st quarter worth approximately $63,000. Finally, EntryPoint Capital LLC purchased a new stake in CorMedix during the 1st quarter worth approximately $66,000. 34.18% of the stock is owned by hedge funds and other institutional investors.

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.