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Brokerages Set CorMedix Inc. (NASDAQ:CRMD) PT at $14.50

CorMedix logo with Medical background

Shares of CorMedix Inc. (NASDAQ:CRMD - Get Free Report) have been assigned a consensus recommendation of "Buy" from the seven research firms that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $14.50.

A number of analysts recently commented on CRMD shares. Leerink Partnrs upgraded shares of CorMedix to a "strong-buy" rating in a research note on Friday, March 7th. Royal Bank of Canada restated an "outperform" rating and set a $12.00 price target on shares of CorMedix in a research note on Wednesday, March 26th. StockNews.com upgraded shares of CorMedix from a "sell" rating to a "hold" rating in a report on Tuesday, April 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $12.00 price target on shares of CorMedix in a report on Wednesday, April 9th. Finally, Leerink Partners initiated coverage on CorMedix in a research report on Friday, March 7th. They set an "outperform" rating and a $18.00 price objective for the company.

Check Out Our Latest Report on CorMedix

Institutional Investors Weigh In On CorMedix

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of CorMedix by 10.1% in the 4th quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company's stock worth $27,363,000 after acquiring an additional 309,514 shares in the last quarter. Elliott Investment Management L.P. lifted its position in CorMedix by 85.1% during the fourth 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 last quarter. Geode Capital Management LLC boosted its stake in CorMedix by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 1,392,820 shares of the company's stock worth $11,284,000 after buying an additional 108,356 shares during the period. State Street Corp increased its position in shares of CorMedix by 0.8% during the third quarter. State Street Corp now owns 1,225,756 shares of the company's stock worth $9,904,000 after acquiring an additional 10,204 shares during the period. Finally, Northern Trust Corp lifted its position in shares of CorMedix by 14.4% in the 4th quarter. Northern Trust Corp now owns 511,565 shares of the company's stock worth $4,144,000 after purchasing an additional 64,243 shares during the period. 34.18% of the stock is currently owned by institutional investors.

CorMedix Stock Performance

Shares of CRMD traded up $0.12 during trading hours on Friday, hitting $9.31. The company had a trading volume of 328,440 shares, compared to its average volume of 1,037,884. The stock has a market capitalization of $606.97 million, a price-to-earnings ratio of -11.58 and a beta of 1.57. CorMedix has a 52-week low of $3.61 and a 52-week high of $13.85. The firm has a fifty day moving average price of $8.66 and a 200-day moving average price of $9.78.

CorMedix (NASDAQ:CRMD - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. The company had revenue of $30.00 million for the quarter, compared to analysts' expectations of $27.46 million. The firm's quarterly revenue was up 29900.0% on a year-over-year basis. Research analysts anticipate that CorMedix will post -0.32 earnings per share for the current fiscal year.

About CorMedix

(Get Free Report

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.

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