CorMedix Inc (NASDAQ:CRMD) Receives $15.00 Average PT from Brokerages

Shares of CorMedix Inc (NASDAQ:CRMD) have received a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.00.

CRMD has been the subject of a number of research reports. Zacks Research upgraded CorMedix from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. D. Boral Capital reiterated a “buy” rating and issued a $14.00 price objective on shares of CorMedix in a report on Monday, April 27th. Royal Bank Of Canada restated an “outperform” rating and set a $14.00 price target (up from $13.00) on shares of CorMedix in a report on Tuesday, April 28th. Weiss Ratings raised CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $19.00 price target on shares of CorMedix in a research note on Tuesday, April 28th.

Institutional Trading of CorMedix

Institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new stake in CorMedix during the 4th quarter valued at about $25,000. Comerica Bank grew its position in CorMedix by 454.6% during the 3rd quarter. Comerica Bank now owns 2,690 shares of the company’s stock valued at $31,000 after purchasing an additional 2,205 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in CorMedix during the 2nd quarter valued at about $42,000. Kestra Advisory Services LLC purchased a new stake in CorMedix during the 4th quarter valued at about $49,000. Finally, Caitong International Asset Management Co. Ltd grew its position in CorMedix by 666.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 4,385 shares of the company’s stock valued at $51,000 after purchasing an additional 3,813 shares during the last quarter. 34.18% of the stock is owned by hedge funds and other institutional investors.

CorMedix Price Performance

CRMD opened at $8.54 on Friday. The stock has a fifty day simple moving average of $7.58 and a two-hundred day simple moving average of $8.34. The company has a current ratio of 2.97, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. The company has a market cap of $669.96 million, a price-to-earnings ratio of 4.01 and a beta of 1.46. CorMedix has a 12-month low of $6.13 and a 12-month high of $17.43.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.08. The business had revenue of $127.43 million during the quarter, compared to the consensus estimate of $104.96 million. CorMedix had a return on equity of 45.57% and a net margin of 45.25%.The firm’s quarterly revenue was up 226.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. Research analysts predict that CorMedix will post 0.53 earnings per share for the current fiscal year.

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.