CorMedix Inc (NASDAQ:CRMD) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• CorMedix has a consensus analyst rating of “Moderate Buy”, based on coverage from eight brokerages: six rate it a buy and two rate it a hold.
• Analysts’ average 12-month price target for CRMD is about $14.86, with recent reports ranging from $13 to $15 and several firms reaffirming bullish views.
• The company recently posted strong quarterly results, including EPS of $0.43 versus estimates of $0.35 and revenue of $127.43 million, while shares opened at $8.42 amid a 1-year range of $6.13 to $14.96.

Shares of CorMedix Inc (NASDAQ:CRMD - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $14.8571.

CRMD has been the subject of a number of recent research reports. D. Boral Capital reissued a "buy" rating and set a $14.00 price objective on shares of CorMedix in a report on Monday, April 27th. Weiss Ratings raised CorMedix from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, May 14th. Royal Bank Of Canada decreased their price target on CorMedix from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Tuesday, July 7th. Needham & Company LLC increased their price target on CorMedix from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Finally, Leerink Partners raised their price objective on CorMedix from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in CorMedix by 22.2% in the second quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company's stock worth $81,000 after acquiring an additional 1,190 shares during the period. Gryphon Financial Partners LLC grew its position in shares of CorMedix by 6.3% during the 1st quarter. Gryphon Financial Partners LLC now owns 27,401 shares of the company's stock valued at $186,000 after acquiring an additional 1,618 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of CorMedix by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,987 shares of the company's stock valued at $222,000 after acquiring an additional 1,631 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of CorMedix by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,540 shares of the company's stock worth $310,000 after purchasing an additional 1,707 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new stake in shares of CorMedix in the 4th quarter worth approximately $25,000. 34.18% of the stock is owned by institutional investors.

CorMedix Stock Performance

CRMD opened at $8.42 on Monday. CorMedix has a 1-year low of $6.13 and a 1-year high of $14.96. The company has a market cap of $660.55 million, a price-to-earnings ratio of 3.95 and a beta of 1.48. The company's fifty day moving average price is $8.32 and its two-hundred day moving average price is $7.82. The company has a current ratio of 2.97, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33.

CorMedix (NASDAQ:CRMD - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.08. CorMedix had a net margin of 45.25% and a return on equity of 45.57%. The firm had revenue of $127.43 million during the quarter, compared to analysts' expectations of $104.96 million. During the same period last year, the company earned $0.30 earnings per share. The business's revenue was up 226.1% on a year-over-year basis. On average, analysts expect that CorMedix will post 0.51 EPS for the current fiscal year.

CorMedix Company Profile

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company's lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.

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