CorMedix Inc (NASDAQ:CRMD) Receives $18.83 Average Price Target from Brokerages

CorMedix Inc (NASDAQ:CRMD) has earned a consensus rating of “Buy” from the ten brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $18.3333.

Several equities research analysts have weighed in on the stock. HC Wainwright increased their price target on shares of CorMedix from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Wall Street Zen lowered shares of CorMedix from a “buy” rating to a “hold” rating in a report on Saturday. JMP Securities reissued a “market outperform” rating and issued a $22.00 target price on shares of CorMedix in a research note on Tuesday, September 9th. D Boral Capital raised CorMedix from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Zacks Research upgraded CorMedix from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th.

CorMedix Price Performance

Shares of CRMD stock opened at $10.07 on Wednesday. The business has a 50-day moving average of $11.27 and a 200 day moving average of $12.11. CorMedix has a 1-year low of $5.60 and a 1-year high of $17.43. The stock has a market capitalization of $793.41 million, a PE ratio of 13.43 and a beta of 1.80.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data 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. CorMedix had a return on equity of 42.73% and a net margin of 42.11%.The firm had revenue of $104.28 million during the quarter, compared to the consensus estimate of $65.63 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The business’s 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. Analysts anticipate that CorMedix will post -0.32 EPS for the current year.

Insiders Place Their Bets

In other CorMedix news, CEO Joseph Todisco sold 50,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $13.00, for a total value of $650,000.00. Following the completion of the transaction, the chief executive officer directly owned 509,496 shares in the company, valued at approximately $6,623,448. This represents a 8.94% 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 company’s stock in a transaction dated Thursday, October 23rd. The stock was bought at an average cost of $11.02 per share, with a total value of $275,500.00. Following the completion of the transaction, the director owned 201,034 shares in the company, valued at approximately $2,215,394.68. This trade represents a 14.20% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 163,997 shares of company stock valued at $2,163,617 over the last quarter. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its holdings in CorMedix by 17.9% in the second quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock worth $81,000 after purchasing an additional 998 shares during the period. Russell Investments Group Ltd. boosted its position in shares of CorMedix by 22.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock worth $81,000 after purchasing an additional 1,190 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of CorMedix by 11.9% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 13,622 shares of the company’s stock worth $168,000 after purchasing an additional 1,451 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of CorMedix by 5.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,114 shares of the company’s stock worth $338,000 after buying an additional 1,478 shares during the last quarter. Finally, Palisades Investment Partners LLC increased its position in CorMedix by 0.3% during the 3rd quarter. Palisades Investment Partners LLC now owns 564,106 shares of the company’s stock valued at $6,561,000 after buying an additional 1,579 shares in the last quarter. Hedge funds and other institutional investors own 34.18% of the company’s stock.

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.