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

Key Points

• CorMedix Inc (NASDAQ:CRMD) has received a consensus rating of “Moderate Buy” from analysts, with two hold ratings, five buy ratings, and one strong buy rating.
• The average 1-year price target for CorMedix stands at $17.14, indicating potential for growth from its current price of $11.64.
• In its latest quarterly earnings report, CorMedix reported $0.30 earnings per share (EPS), exceeding analysts' expectations of $0.25 and showing a significant improvement from the previous year's loss of ($0.25) EPS.

CorMedix Inc (NASDAQ:CRMD - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight brokerages that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $17.1429.

A number of research firms recently issued reports on CRMD. HC Wainwright began coverage on shares of CorMedix in a research note on Monday, June 30th. They issued a "buy" rating and a $20.00 target price on the stock. Royal Bank Of Canada upgraded shares of CorMedix from an "outperform" rating to a "moderate buy" rating and raised their target price for the company from $13.00 to $17.00 in a research note on Friday, June 20th. D Boral Capital lowered shares of CorMedix from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 30th. D. Boral Capital lowered shares of CorMedix from a "buy" rating to a "hold" rating in a research note on Monday, June 30th. Finally, Needham & Company LLC increased their price target on shares of CorMedix from $15.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, June 24th.

Hedge Funds Weigh In On CorMedix

A number of large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. grew its holdings in CorMedix by 699.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 8,685 shares of the company's stock valued at $54,000 after buying an additional 7,599 shares in the last quarter. USA Financial Formulas purchased a new position in shares of CorMedix during the second quarter worth about $55,000. Essex Financial Services Inc. purchased a new position in shares of CorMedix during the first quarter worth about $63,000. EntryPoint Capital LLC purchased a new position in shares of CorMedix during the first quarter worth about $66,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of CorMedix during the first quarter worth about $72,000. 34.18% of the stock is currently owned by institutional investors.

CorMedix Stock Down 8.8%

Shares of CRMD traded down $1.06 during mid-day trading on Monday, hitting $10.90. 11,816,877 shares of the company's stock were exchanged, compared to its average volume of 1,788,778. The firm has a fifty day moving average of $12.59 and a two-hundred day moving average of $10.83. CorMedix has a twelve month low of $3.61 and a twelve month high of $17.43. The stock has a market cap of $738.90 million, a price-to-earnings ratio of 49.73 and a beta of 1.71.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.17 by $0.11. CorMedix had a net margin of 20.81% and a return on equity of 22.57%. During the same quarter last year, the business posted ($0.25) EPS. The company's revenue for the quarter was up 4830.1% on a year-over-year basis. On average, equities analysts predict that CorMedix will post -0.32 earnings per share for the current year.

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.