CorMedix Inc (NASDAQ:CRMD) Given Consensus Rating of “Moderate Buy” by Brokerages

CorMedix Inc (NASDAQ:CRMD) has been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.00.

Several equities research analysts have issued reports on the stock. D. Boral Capital reissued a “buy” rating and issued a $14.00 price target on shares of CorMedix in a report on Monday, April 27th. Royal Bank Of Canada restated an “outperform” rating and issued a $14.00 target price (up from $13.00) on shares of CorMedix in a research note on Tuesday, April 28th. Needham & Company LLC boosted their target price on shares of CorMedix from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Leerink Partners boosted their target price on shares of CorMedix from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $19.00 target price on shares of CorMedix in a research note on Tuesday, April 28th.

CorMedix Trading Down 2.4%

Shares of CorMedix stock opened at $8.39 on Thursday. The firm has a market capitalization of $658.20 million, a PE ratio of 3.94 and a beta of 1.46. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.97 and a quick ratio of 2.74. The company’s fifty day moving average price is $8.04 and its two-hundred day moving average price is $8.22. CorMedix has a 52-week low of $6.13 and a 52-week high of $15.65.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.08. The firm had revenue of $127.43 million for the quarter, compared to analyst estimates of $104.96 million. CorMedix had a net margin of 45.25% and a return on equity of 45.57%. The business’s revenue for the quarter was up 226.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. On average, analysts expect that CorMedix will post 0.53 EPS for the current year.

Institutional Investors Weigh In On CorMedix

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in shares of CorMedix in the 4th quarter valued at $25,000. Comerica Bank boosted its stake in shares of CorMedix by 454.6% in 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 in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of CorMedix in the 2nd quarter valued at $42,000. Kestra Advisory Services LLC acquired a new stake in shares of CorMedix in the 4th quarter valued at $49,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of CorMedix by 666.6% in 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 in the last quarter. Institutional investors and hedge funds own 34.18% of the company’s stock.

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.