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

Shares of CorMedix Inc (NASDAQ:CRMD) have received a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $15.00.

A number of equities analysts recently commented on the company. Oppenheimer assumed coverage on CorMedix in a report on Wednesday, September 23rd. They set an “outperform” rating and a $15.00 price target for the company. Weiss Ratings upgraded CorMedix from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of CorMedix in a research note on Monday, October 19th. Finally, Royal Bank Of Canada increased their price objective on shares of CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th.

CorMedix Price Performance

Shares of CRMD opened at $5.70 on Wednesday. CorMedix has a fifty-two week low of $5.63 and a fifty-two week high of $13.02. The company has a quick ratio of 2.36, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The company has a market cap of $444.26 million, a P/E ratio of 2.66, a PEG ratio of 1.06 and a beta of 1.48. The firm’s 50 day moving average price is $7.80 and its 200 day moving average price is $7.66.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in CorMedix during the 3rd quarter valued at $31,000. Profund Advisors LLC raised its position in CorMedix by 458.2% during the third quarter. Profund Advisors LLC now owns 127,465 shares of the company’s stock valued at $981,000 after purchasing an additional 104,629 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of CorMedix by 13.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 14,222 shares of the company’s stock valued at $113,000 after acquiring an additional 1,736 shares during the last quarter. Sigma Planning Corp increased its holdings in CorMedix by 8.5% in the third quarter. Sigma Planning Corp now owns 32,142 shares of the company’s stock worth $247,000 after purchasing an additional 2,531 shares in the last quarter. Finally, WINTON GROUP Ltd lifted 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 valued at $511,000 after buying an additional 26,723 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 biopharmaceutical company focused on developing and commercializing products designed to prevent and treat life-threatening infections and inflammatory conditions. The company’s lead product is DefenCath, a catheter-lock solution containing taurolidine and citrate.

DefenCath is approved by the U.S. Food and Drug Administration for use in adult patients with kidney failure who are receiving chronic hemodialysis through a central venous catheter. It is intended to reduce the risk of catheter-related bloodstream infections, a significant complication for patients who depend on long-term vascular access.