CorMedix Inc (NASDAQ:CRMD) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• CorMedix Inc (NASDAQ: CRMD) has received an average rating of "Moderate Buy" from seven brokerages, with price targets ranging from $13.00 to $20.00.
• The company's stock recently reported a 4830.1% increase in year-over-year revenue and a net margin of 42.11%.
• Institutional investors own 34.18% of CorMedix, with significant holdings being increased by firms like Wells Fargo and Barclays during the 4th quarter.

Shares of CorMedix Inc (NASDAQ:CRMD - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $17.3333.

A number of equities analysts have recently weighed in on CRMD shares. HC Wainwright lowered their target price on CorMedix from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Needham & Company LLC lifted their price target on CorMedix from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. D. Boral Capital cut CorMedix from a "buy" rating to a "hold" rating in a report on Monday, June 30th. Wall Street Zen cut CorMedix from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Finally, D Boral Capital cut CorMedix from a "strong-buy" rating to a "hold" rating in a report on Monday, June 30th.

CorMedix Trading Up 3.3%

Shares of NASDAQ:CRMD traded up $0.48 on Friday, hitting $14.83. The company had a trading volume of 2,669,084 shares, compared to its average volume of 3,697,931. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 19.77 and a beta of 1.76. The stock has a 50 day moving average price of $12.32 and a 200 day moving average price of $11.03. CorMedix has a 1-year low of $5.31 and a 1-year high of $17.43.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.20 by $0.08. The business had revenue of $39.74 million during the quarter, compared to the consensus estimate of $29.88 million. CorMedix had a net margin of 42.11% and a return on equity of 42.73%. CorMedix's revenue was up 4830.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.25) EPS. Sell-side analysts anticipate that CorMedix will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of CorMedix

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in CorMedix by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 3,646,551 shares of the company's stock valued at $22,463,000 after purchasing an additional 268,360 shares during the period. Elliott Investment Management L.P. boosted its holdings in CorMedix by 85.1% in the 4th quarter. Elliott Investment Management L.P. now owns 2,870,632 shares of the company's stock valued at $23,252,000 after purchasing an additional 1,320,109 shares during the period. Marshall Wace LLP boosted its holdings in CorMedix by 1,019.2% in the 2nd quarter. Marshall Wace LLP now owns 2,579,976 shares of the company's stock valued at $31,785,000 after purchasing an additional 2,349,451 shares during the period. Geode Capital Management LLC boosted its holdings in CorMedix by 11.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,596,322 shares of the company's stock valued at $19,669,000 after purchasing an additional 163,403 shares during the period. Finally, Palisades Investment Partners LLC boosted its holdings in CorMedix by 56.7% in the 2nd quarter. Palisades Investment Partners LLC now owns 562,527 shares of the company's stock valued at $6,930,000 after purchasing an additional 203,557 shares during the period. Institutional investors own 34.18% of the company's stock.

About CorMedix

CorMedix Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.