CorMedix Inc (NASDAQ:CRMD) Receives $17.14 Average PT from Brokerages

CorMedix Inc (NASDAQ:CRMD - Get Free Report) has been given an average rating of "Moderate Buy" by the eight research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $17.14.

CRMD has been the subject of a number of recent research reports. D. Boral Capital lowered shares of CorMedix from a "buy" rating to a "hold" rating in a research note on Monday, June 30th. Wall Street Zen upgraded shares of CorMedix from a "sell" rating to a "hold" rating in a research report on Tuesday, April 1st. Royal Bank Of Canada upgraded CorMedix from an "outperform" rating to a "moderate buy" rating and raised their price target for the company from $13.00 to $17.00 in a research report on Friday, June 20th. D Boral Capital cut shares of CorMedix from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 30th. Finally, HC Wainwright assumed coverage on shares of CorMedix in a report on Monday, June 30th. They issued a "buy" rating and a $20.00 price objective for the company.

CorMedix Stock Performance

NASDAQ CRMD traded up $0.36 on Thursday, hitting $11.71. 1,492,440 shares of the stock traded hands, compared to its average volume of 1,353,560. The business's fifty day moving average is $12.69 and its two-hundred day moving average is $10.60. CorMedix has a 12 month low of $3.61 and a 12 month high of $17.43. The firm has a market capitalization of $794.17 million, a price-to-earnings ratio of 53.23 and a beta of 1.58.

CorMedix (NASDAQ:CRMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. CorMedix had a return on equity of 22.57% and a net margin of 20.81%. The company had revenue of $39.08 million during the quarter, compared to the consensus estimate of $38.90 million. During the same quarter in the prior year, the company earned ($0.25) EPS. Analysts expect that CorMedix will post -0.32 EPS for the current fiscal year.

Institutional Trading of CorMedix

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in CorMedix by 8.2% during the 4th quarter. Bank of New York Mellon Corp now owns 129,695 shares of the company's stock valued at $1,051,000 after buying an additional 9,782 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of CorMedix by 11.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 174,418 shares of the company's stock valued at $1,413,000 after acquiring an additional 17,869 shares during the period. Raymond James Financial Inc. bought a new position in shares of CorMedix during the fourth quarter valued at about $937,000. AlphaQuest LLC bought a new position in shares of CorMedix during the fourth quarter valued at about $115,000. Finally, HighTower Advisors LLC boosted its holdings in shares of CorMedix by 48.9% during the fourth quarter. HighTower Advisors LLC now owns 29,138 shares of the company's stock worth $236,000 after purchasing an additional 9,566 shares during the period. Hedge funds and other institutional investors own 34.18% of the company's stock.

CorMedix Company Profile

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.