CorMedix (NASDAQ:CRMD) Price Target Raised to $15.00

CorMedix (NASDAQ:CRMD) had its price target raised by Royal Bank Of Canada from $14.00 to $15.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on the company. Citigroup restated a “market outperform” rating on shares of CorMedix in a research note on Tuesday. Weiss Ratings raised CorMedix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Needham & Company LLC increased their price objective on CorMedix from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group set a $19.00 price objective on CorMedix in a research report on Tuesday. Finally, Oppenheimer assumed coverage on shares of CorMedix in a report on Wednesday, September 23rd. They set an “outperform” rating and a $15.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.44.

CorMedix Price Performance

Shares of NASDAQ CRMD opened at $4.84 on Tuesday. CorMedix has a 1 year low of $4.82 and a 1 year high of $13.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 2.36. The company’s 50-day moving average is $7.25 and its 200 day moving average is $7.58. The stock has a market capitalization of $377.23 million, a P/E ratio of 2.79, a P/E/G ratio of 0.99 and a beta of 1.48.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings data on Thursday, November 12th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The company had revenue of $54.52 million during the quarter, compared to analysts’ expectations of $51.76 million. CorMedix had a return on equity of 40.52% and a net margin of 40.49%. On average, sell-side analysts expect that CorMedix will post 0.54 earnings per share for the current year.

Hedge Funds Weigh In On CorMedix

Several large investors have recently made changes to their positions in CRMD. First Trust Advisors LP boosted its position in shares of CorMedix by 609.2% in the 3rd quarter. First Trust Advisors LP now owns 342,855 shares of the company’s stock worth $2,640,000 after purchasing an additional 294,509 shares in the last quarter. Advisors Asset Management Inc. bought a new position in CorMedix during the 3rd quarter valued at approximately $26,000. Alps Advisors Inc. bought a new position in CorMedix during the 3rd quarter valued at approximately $566,000. Kestra Advisory Services LLC increased its position in CorMedix by 38.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 17,950 shares of the company’s stock valued at $138,000 after buying an additional 5,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in CorMedix during the third quarter valued at $31,000. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

Key CorMedix News

Here’s some of the latest news about CRMD:

• Positive Sentiment: CorMedix reported Q3 revenue of $54.5 million, above the $51.8 million consensus estimate. The company also reported adjusted EBITDA of $3.1 million. Company results and business update
• Positive Sentiment: The company maintained its 2026 revenue outlook and narrowed its adjusted EBITDA guidance. Separate reports also cited a higher price target from RBC and a positive outlook from Needham, offering some support for investor sentiment. Company guidance RBC price target report
• Negative Sentiment: Reported GAAP loss was $0.19 per share, wider than the $0.12 consensus loss, and the company posted a $14.7 million net loss. Another report using a different earnings measure showed a $0.04 loss per share versus a $0.09 expected loss; the differing figures may reflect adjusted versus reported results. The reported miss and net loss are likely weighing on the stock. Quarterly earnings report

CorMedix Company Profile

CorMedix Inc. is a biopharmaceutical company focused on products for infectious and inflammatory diseases. Its lead product, DefenCath, is an antimicrobial catheter-lock solution containing taurolidine and heparin. The U.S. Food and Drug Administration approved it to reduce catheter-related bloodstream infections in adults with kidney failure who receive chronic hemodialysis through a central venous catheter. CorMedix expanded its business in 2024 by acquiring Melinta Therapeutics, adding marketed antibiotics to its portfolio.