CorMedix’s (CRMD) Buy Rating Reaffirmed at D. Boral Capital

D. Boral Capital restated their buy rating on shares of CorMedix (NASDAQ:CRMD) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $14.00 target price on the stock.

CRMD has been the topic of a number of other research reports. HC Wainwright cut their price target on shares of CorMedix from $18.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CorMedix in a report on Wednesday, January 21st. Royal Bank Of Canada set a $13.00 price target on CorMedix and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Needham & Company LLC lowered their price objective on CorMedix from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Zacks Research lowered CorMedix from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, CorMedix has an average rating of “Moderate Buy” and a consensus target price of $15.86.

CorMedix Stock Performance

NASDAQ CRMD opened at $7.43 on Wednesday. The firm’s fifty day moving average price is $9.60 and its two-hundred day moving average price is $10.90. The stock has a market cap of $585.41 million, a PE ratio of 3.61 and a beta of 1.39. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.73 and a current ratio of 1.94. CorMedix has a fifty-two week low of $5.60 and a fifty-two week high of $17.43.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings data on Wednesday, November 12th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.78. The company had revenue of $104.28 million during the quarter, compared to the consensus estimate of $65.63 million. CorMedix had a return on equity of 51.77% and a net margin of 75.83%.The firm’s revenue was up 810.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. On average, equities analysts expect that CorMedix will post -0.32 EPS for the current fiscal year.

CorMedix announced that its board has approved a share repurchase program on Monday, February 2nd that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to purchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at CorMedix

In other CorMedix news, Director Alan W. Dunton sold 20,000 shares of the business’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $13.00, for a total transaction of $260,000.00. Following the completion of the sale, the director owned 40,250 shares in the company, valued at approximately $523,250. The trade was a 33.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven W. Lefkowitz sold 40,000 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $11.88, for a total transaction of $475,200.00. Following the sale, the director directly owned 80,498 shares of the company’s stock, valued at approximately $956,316.24. The trade was a 33.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 90,000 shares of company stock valued at $1,095,200 in the last three months. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On CorMedix

A number of institutional investors and hedge funds have recently bought and sold shares of CRMD. Deerfield Management Company L.P. purchased a new position in CorMedix during the 3rd quarter worth $38,656,000. Marshall Wace LLP lifted its position in shares of CorMedix by 1,019.2% during the second quarter. Marshall Wace LLP now owns 2,579,976 shares of the company’s stock valued at $31,785,000 after purchasing an additional 2,349,451 shares in the last quarter. UBS Group AG boosted its holdings in CorMedix by 295.3% during the third quarter. UBS Group AG now owns 1,090,908 shares of the company’s stock worth $12,687,000 after purchasing an additional 814,964 shares during the last quarter. Jump Financial LLC bought a new stake in CorMedix in the 3rd quarter worth about $9,003,000. Finally, Goldman Sachs Group Inc. grew its position in CorMedix by 259.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 828,781 shares of the company’s stock worth $9,639,000 after purchasing an additional 597,971 shares in the last quarter. 34.18% of the stock is owned by hedge funds and other institutional investors.

CorMedix News Roundup

Here are the key news stories impacting CorMedix this week:

• Positive Sentiment: Board approved a multi-year up-to-$75 million share repurchase program through Dec 31, 2027 — a clear sign of management confidence and a direct potential support for the stock by reducing float. Article Title
• Positive Sentiment: D. Boral Capital reaffirmed a “buy” rating with a $14 price target, signaling bullish analyst conviction (implies sizable upside vs. current levels). Article Title
• Positive Sentiment: Analyst commentary expects DefenCath product sales (and contributions from acquired Melinta products) to drive Q4 revenues, supporting the company’s recent strong top-line results and implying near-term cash generation. Article Title
• Neutral Sentiment: Management will present and hold investor meetings at conferences in March — increases visibility and may help reprice the stock if management delivers favorable guidance or commercial updates. Article Title
• Neutral Sentiment: Investor day / analyst slideshow materials were posted (useful for detail on commercial ramp and pipeline but not an immediate price mover absent new guidance). Article Title
• Neutral Sentiment: Public short-interest reports show anomalous/zero-share figures and inconsistent reporting (entries note a “large increase” but list 0 shares/NaN changes) — data noise makes it hard to conclude meaningful short-squeeze risk or pressure from short sellers at this time.
• Negative Sentiment: Zacks Research downgraded CRMD from “hold” to “strong sell,” which likely triggered some selling pressure and contributed to weaker sentiment despite the buyback and positive sales commentary. Article Title

About CorMedix

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.