CorMedix Inc (NASDAQ:CRMD) Stock Has Consensus Price Target of $15.00 According to Analysts

Shares of CorMedix Inc (NASDAQ:CRMD) have been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and seven 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 recently weighed in on CRMD shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CorMedix in a research note on Tuesday, August 11th. Oppenheimer began coverage on CorMedix in a research report on Wednesday, September 23rd. They set an “outperform” rating and a $15.00 price objective for the company. Finally, Royal Bank Of Canada boosted their price target on CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th.

CorMedix Price Performance

CRMD stock opened at $7.28 on Friday. CorMedix has a fifty-two week low of $6.13 and a fifty-two week high of $13.02. The business’s 50 day moving average price is $7.86 and its two-hundred day moving average price is $7.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 2.56. The company has a market capitalization of $567.40 million, a price-to-earnings ratio of 3.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.40.

CorMedix (NASDAQ:CRMD) last released its earnings results on Thursday, August 13th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. CorMedix had a return on equity of 40.52% and a net margin of 40.49%.The company had revenue of $101.93 million during the quarter, compared to analysts’ expectations of $96.04 million. As a group, analysts forecast that CorMedix will post 0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CorMedix

Several hedge funds have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd grew its stake in shares of CorMedix by 69.7% in the second quarter. WINTON GROUP Ltd now owns 65,061 shares of the company’s stock worth $511,000 after acquiring an additional 26,723 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of CorMedix by 8.2% during the second quarter. HighTower Advisors LLC now owns 32,655 shares of the company’s stock valued at $256,000 after acquiring an additional 2,476 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of CorMedix during the second quarter valued at $247,000. Headlands Technologies LLC raised its position in shares of CorMedix by 63.0% in the 2nd quarter. Headlands Technologies LLC now owns 96,773 shares of the company’s stock worth $760,000 after purchasing an additional 37,401 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of CorMedix by 5.6% in the 2nd quarter. Wellington Management Group LLP now owns 215,795 shares of the company’s stock worth $1,694,000 after purchasing an additional 11,530 shares during the last quarter. 34.18% of the stock is owned by institutional investors.

About CorMedix

CorMedix Inc is a biopharmaceutical company focused on developing and commercializing products designed to prevent and treat infectious and inflammatory diseases. The company’s lead product is DefenCath^® (taurolidine and heparin), an antimicrobial catheter-lock solution intended to reduce the risk of catheter-related bloodstream infections in adult patients with kidney failure who receive chronic hemodialysis through a central venous catheter.

The U.S. Food and Drug Administration approved DefenCath in 2023.