CorMedix (NASDAQ:CRMD) Posts Earnings Results, Beats Estimates By $0.05 EPS

CorMedix (NASDAQ:CRMD) announced its quarterly earnings results on Thursday. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05, FiscalAI reports. CorMedix had a net margin of 45.25% and a return on equity of 45.57%. The business had revenue of $101.93 million during the quarter, compared to the consensus estimate of $96.04 million.

Here are the key takeaways from CorMedix’s conference call:

• Second-quarter revenue rose to $101.9 million, including $66.1 million from DefenCath and $35.8 million from the acquired Melinta portfolio; adjusted EBITDA increased to $58.7 million.
• CorMedix signed a multi-year DefenCath supply agreement with its fifth major U.S. dialysis provider. The LDO will begin a pilot involving several hundred clinics in the third quarter, with potential expansion in 2027.
• The company reaffirmed 2026 revenue guidance of $325 million to $345 million and raised adjusted EBITDA guidance to $125 million to $140 million, while noting that post-TDAPA ordering patterns remain an uncertainty.
• CorMedix expects Mundipharma to submit an sNDA for REZZAYO as prophylaxis against invasive fungal disease in the third quarter, potentially leading to FDA action in the first half of 2027 following positive Phase III results.
• DefenCath volumes have stabilized among larger dialysis providers but experienced some attrition among smaller accounts after TDAPA expiration; meaningful volume growth may depend on the new LDO pilot and Medicare Advantage contracting, which is not included in 2026 guidance.

CorMedix Price Performance

CorMedix stock traded up $0.85 during midday trading on Thursday, reaching $7.95. 3,872,516 shares of the company were exchanged, compared to its average volume of 1,715,410. The firm’s 50-day simple moving average is $8.17 and its 200-day simple moving average is $7.64. CorMedix has a 1 year low of $6.13 and a 1 year high of $14.96. The company has a market capitalization of $623.46 million, a price-to-earnings ratio of 3.76 and a beta of 1.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 2.97.

Institutional Investors Weigh In On CorMedix

Several hedge funds have recently modified their holdings of the company. Comerica Bank grew its holdings in shares of CorMedix by 454.6% during the third quarter. Comerica Bank now owns 2,690 shares of the company’s stock worth $31,000 after buying an additional 2,205 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of CorMedix during the second quarter valued at approximately $42,000. Kestra Advisory Services LLC purchased a new position in shares of CorMedix during the fourth quarter valued at approximately $49,000. Caitong International Asset Management Co. Ltd boosted its position in CorMedix by 666.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 4,385 shares of the company’s stock worth $51,000 after acquiring an additional 3,813 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in CorMedix in the 3rd quarter worth approximately $55,000. 34.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CRMD shares. Leerink Partners upped their target price on shares of CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. D. Boral Capital reissued a “buy” rating and set a $14.00 price target on shares of CorMedix in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CorMedix in a research note on Tuesday. Needham & Company LLC boosted their target price on CorMedix from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada lowered their target price on CorMedix from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, CorMedix currently has an average rating of “Moderate Buy” and an average price target of $14.86.

CorMedix Company Profile

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.