CorMedix Inc. (NASDAQ:CRMD) Given Average Rating of "Buy" by Analysts

CorMedix Inc. (NASDAQ:CRMD - Get Free Report) has been assigned an average rating of "Buy" from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $15.00.

Several analysts have issued reports on CRMD shares. D. Boral Capital restated a "buy" rating and issued a $15.00 target price on shares of CorMedix in a research note on Tuesday, May 6th. Royal Bank of Canada restated an "outperform" rating and issued a $12.00 target price on shares of CorMedix in a research note on Wednesday, March 26th. Leerink Partnrs upgraded CorMedix to a "strong-buy" rating in a research note on Friday, March 7th. Needham & Company LLC boosted their target price on CorMedix from $12.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen upgraded CorMedix from a "sell" rating to a "hold" rating in a research note on Tuesday, April 1st.

CorMedix Stock Down 2.0%

CRMD stock traded down $0.30 during midday trading on Friday, hitting $14.56. The company's stock had a trading volume of 1,184,174 shares, compared to its average volume of 1,226,096. The stock's 50-day moving average price is $10.77 and its 200 day moving average price is $10.09. CorMedix has a 1 year low of $3.61 and a 1 year high of $15.38. The stock has a market cap of $987.53 million, a price-to-earnings ratio of -17.98 and a beta of 1.62.

CorMedix (NASDAQ:CRMD - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $39.08 million during the quarter, compared to analysts' expectations of $38.90 million. During the same period in the prior year, the firm posted ($0.25) EPS. As a group, equities analysts forecast that CorMedix will post -0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CorMedix

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in CorMedix by 1.9% during the fourth quarter. Bank of America Corp DE now owns 60,115 shares of the company's stock valued at $487,000 after purchasing an additional 1,124 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CorMedix by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,987 shares of the company's stock valued at $222,000 after purchasing an additional 1,631 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of CorMedix by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 171,978 shares of the company's stock valued at $1,393,000 after purchasing an additional 1,679 shares during the last quarter. Sigma Planning Corp increased its position in shares of CorMedix by 7.8% during the 1st quarter. Sigma Planning Corp now owns 36,305 shares of the company's stock valued at $224,000 after purchasing an additional 2,612 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of CorMedix by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 177,188 shares of the company's stock valued at $1,091,000 after purchasing an additional 2,770 shares during the last quarter. 34.18% of the stock is currently owned by institutional investors.

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.