CorMedix (NASDAQ:CRMD) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of CorMedix (NASDAQ:CRMD) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other equities research analysts also recently issued reports on the stock. Zacks Research raised shares of CorMedix from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. HC Wainwright upped their target price on shares of CorMedix from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $22.00 price target (up previously from $21.00) on shares of CorMedix in a research report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of CorMedix in a research note on Wednesday, October 8th. Finally, D Boral Capital raised CorMedix from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, CorMedix presently has an average rating of “Buy” and an average target price of $18.33.

CorMedix Trading Up 0.3%

NASDAQ:CRMD opened at $11.24 on Friday. The business’s 50-day moving average is $11.39 and its 200 day moving average is $12.08. CorMedix has a 12 month low of $5.60 and a 12 month high of $17.43. The company has a market capitalization of $880.54 million, a P/E ratio of 14.99 and a beta of 1.80.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings results on Wednesday, November 12th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.78. The business had revenue of $2.73 million during the quarter, compared to analysts’ expectations of $65.63 million. CorMedix had a return on equity of 42.73% and a net margin of 42.11%.The firm’s revenue for the quarter was up 810.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) EPS. CorMedix has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts forecast that CorMedix will post -0.32 earnings per share for the current year.

Insider Buying and Selling at CorMedix

In related news, COO Elizabeth Hurlburt sold 41,121 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $13.08, for a total transaction of $537,862.68. Following the completion of the transaction, the chief operating officer owned 176,990 shares in the company, valued at $2,315,029.20. The trade was a 18.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kaufman Beth Zelnick sold 50,000 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $13.41, for a total value of $670,500.00. Following the completion of the sale, the insider owned 180,418 shares in the company, valued at approximately $2,419,405.38. The trade was a 21.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 163,997 shares of company stock valued at $2,163,617. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRMD. Ameritas Investment Partners Inc. lifted its holdings in CorMedix by 17.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock valued at $81,000 after buying an additional 998 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of CorMedix by 22.2% during the second quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock worth $81,000 after acquiring an additional 1,190 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of CorMedix by 11.9% during the second quarter. China Universal Asset Management Co. Ltd. now owns 13,622 shares of the company’s stock valued at $168,000 after acquiring an additional 1,451 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of CorMedix by 5.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,114 shares of the company’s stock valued at $338,000 after purchasing an additional 1,478 shares during the period. Finally, Palisades Investment Partners LLC boosted its holdings in shares of CorMedix by 0.3% in the third quarter. Palisades Investment Partners LLC now owns 564,106 shares of the company’s stock valued at $6,561,000 after purchasing an additional 1,579 shares during the period. 34.18% of the stock is currently owned by 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.