D. Boral Capital Reiterates Buy Rating for CorMedix (NASDAQ:CRMD)

CorMedix (NASDAQ:CRMD)‘s stock had its “buy” rating reissued by investment analysts at D. Boral Capital in a report issued on Tuesday,Benzinga reports. They currently have a $15.00 price objective on the stock. D. Boral Capital’s price target would suggest a potential upside of 114.29% from the company’s previous close.

Several other research analysts have also issued reports on CRMD. Leerink Partnrs raised CorMedix to a “strong-buy” rating in a research report on Friday, March 7th. Leerink Partners initiated coverage on CorMedix in a report on Friday, March 7th. They set an “outperform” rating and a $18.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price target on shares of CorMedix in a research report on Wednesday, March 26th. StockNews.com upgraded CorMedix from a “sell” rating to a “hold” rating in a research report on Tuesday, April 1st. Finally, Needham & Company LLC decreased their target price on CorMedix from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, March 26th. One investment 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $14.50.

CorMedix Trading Up 3.1 %

Shares of CRMD stock opened at $7.00 on Tuesday. CorMedix has a twelve month low of $3.61 and a twelve month high of $13.85. The stock has a market capitalization of $456.27 million, a price-to-earnings ratio of -8.64 and a beta of 1.57. The stock has a fifty day simple moving average of $9.34 and a two-hundred day simple moving average of $9.85.

CorMedix (NASDAQ:CRMD) last issued its earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The firm had revenue of $30.00 million during the quarter, compared to analysts’ expectations of $27.46 million. The company’s revenue for the quarter was up 29900.0% on a year-over-year basis. Research analysts predict that CorMedix will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CRMD. FMR LLC increased its position in shares of CorMedix by 54.3% during the third quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after acquiring an additional 1,625 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in CorMedix in the fourth quarter valued at approximately $81,000. Captrust Financial Advisors acquired a new position in CorMedix in the fourth quarter valued at approximately $90,000. Aigen Investment Management LP acquired a new position in CorMedix in the fourth quarter valued at approximately $94,000. Finally, XTX Topco Ltd acquired a new position in shares of CorMedix during the fourth quarter worth approximately $95,000. 34.18% of the stock is owned by hedge funds and other institutional investors.

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.