CorMedix (NASDAQ:CRMD) Trading Up 2.6% – Time to Buy?

CorMedix Inc (NASDAQ:CRMD)’s stock price traded up 2.6% during mid-day trading on Tuesday . The company traded as high as $10.34 and last traded at $10.2440. 291,425 shares changed hands during trading, a decline of 87% from the average session volume of 2,331,350 shares. The stock had previously closed at $9.98.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CRMD. HC Wainwright upped their price target on shares of CorMedix from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Zacks Research raised CorMedix from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. D. Boral Capital reiterated a “buy” rating and set a $14.00 price target on shares of CorMedix in a report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c)” rating on shares of CorMedix in a research note on Wednesday, October 8th. Finally, D Boral Capital raised shares of CorMedix from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $18.33.

CorMedix Trading Up 1.2%

The firm has a market cap of $795.69 million, a price-to-earnings ratio of 13.39 and a beta of 1.80. The firm has a 50-day moving average of $11.33 and a two-hundred day moving average of $12.11.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.78. CorMedix had a net margin of 42.11% and a return on equity of 42.73%. The company had revenue of $2.73 million for the quarter, compared to analyst estimates of $65.63 million. During the same period last year, the business posted ($0.05) EPS. The business’s quarterly revenue was up 810.2% on a year-over-year basis. CorMedix has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities analysts anticipate that CorMedix Inc will post -0.32 EPS for the current year.

Insider Buying and Selling at CorMedix

In other news, COO Elizabeth Hurlburt sold 41,121 shares of CorMedix stock in a transaction that occurred 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 sale, the chief operating officer owned 176,990 shares of the company’s stock, valued at approximately $2,315,029.20. This trade represents a 18.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myron Kaplan bought 25,000 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The stock was purchased at an average price of $11.02 per share, with a total value of $275,500.00. Following the completion of the purchase, the director directly owned 201,034 shares of the company’s stock, valued at $2,215,394.68. This represents a 14.20% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 163,997 shares of company stock valued at $2,163,617 over the last quarter. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On CorMedix

Several large investors have recently modified their holdings of CRMD. Oberweis Asset Management Inc. boosted its stake in CorMedix by 62.0% in the 3rd quarter. Oberweis Asset Management Inc. now owns 785,700 shares of the company’s stock valued at $9,138,000 after buying an additional 300,700 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of CorMedix during the third quarter valued at $406,000. Alyeska Investment Group L.P. lifted its holdings in shares of CorMedix by 68.4% during the third quarter. Alyeska Investment Group L.P. now owns 1,262,979 shares of the company’s stock valued at $14,688,000 after acquiring an additional 512,979 shares during the period. Virtus Advisers LLC acquired a new stake in shares of CorMedix in the 3rd quarter valued at $205,000. Finally, Sherbrooke Park Advisers LLC grew its holdings in shares of CorMedix by 302.3% in the 3rd quarter. Sherbrooke Park Advisers LLC now owns 42,752 shares of the company’s stock worth $497,000 after purchasing an additional 32,126 shares during the last quarter. 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.