CorMedix Inc (NASDAQ:CRMD) Receives Average Rating of “Moderate Buy” from Analysts

CorMedix Inc (NASDAQ:CRMD) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $15.00.

A number of equities analysts have commented on CRMD shares. Citizens Jmp reissued a “market outperform” rating and issued a $19.00 price target on shares of CorMedix in a research note on Tuesday, April 28th. Leerink Partners raised their price objective on shares of CorMedix from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Needham & Company LLC lifted their price objective on shares of CorMedix from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, April 27th. D. Boral Capital reiterated a “buy” rating and issued a $14.00 target price on shares of CorMedix in a research report on Monday, April 27th. Finally, Zacks Research raised CorMedix from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th.

Hedge Funds Weigh In On CorMedix

A number of hedge funds and other institutional investors have recently modified their holdings of CRMD. BlackRock Inc. bought a new position in shares of CorMedix during the 2nd quarter valued at about $49,644,000. Deerfield Management Company L.P. bought a new stake in CorMedix in the 3rd quarter worth approximately $38,656,000. Marshall Wace LLP lifted its position in CorMedix by 34.6% in the 3rd quarter. Marshall Wace LLP now owns 3,473,494 shares of the company’s stock worth $40,397,000 after buying an additional 893,518 shares during the last quarter. UBS Group AG boosted its stake in CorMedix by 295.3% in the third quarter. UBS Group AG now owns 1,090,908 shares of the company’s stock worth $12,687,000 after buying an additional 814,964 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in CorMedix in the third quarter worth approximately $9,003,000. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

CorMedix Stock Down 3.4%

Shares of NASDAQ CRMD opened at $8.23 on Friday. CorMedix has a 12 month low of $6.13 and a 12 month high of $14.96. The company has a current ratio of 2.56, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $641.45 million, a price-to-earnings ratio of 3.85 and a beta of 1.50. The business has a 50-day moving average of $8.09 and a 200-day moving average of $7.65.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. The company had revenue of $101.93 million for the quarter, compared to analysts’ expectations of $96.04 million. CorMedix had a net margin of 40.49% and a return on equity of 40.52%. Sell-side analysts expect that CorMedix will post 0.54 earnings per share for the current fiscal year.

About CorMedix

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.