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

Shares of CorMedix Inc (NASDAQ:CRMD - Get Free Report) have earned an average recommendation of "Buy" from the seven analysts that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $15.00.

Several brokerages recently weighed in on CRMD. Royal Bank Of Canada reiterated an "outperform" rating and issued a $12.00 price objective on shares of CorMedix in a research report on Wednesday, March 26th. Leerink Partnrs upgraded CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. Needham & Company LLC increased their price objective on CorMedix from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Leerink Partners initiated coverage on CorMedix in a research note on Friday, March 7th. They set an "outperform" rating and a $18.00 price target on the stock. Finally, Wall Street Zen upgraded CorMedix from a "sell" rating to a "hold" rating in a research note on Tuesday, April 1st.

CorMedix Trading Down 2.6%

CorMedix stock traded down $0.36 during mid-day trading on Friday, hitting $13.58. The company's stock had a trading volume of 1,311,882 shares, compared to its average volume of 1,229,011. The firm has a market capitalization of $921.00 million, a PE ratio of 61.73 and a beta of 1.62. CorMedix has a 1 year low of $3.61 and a 1 year high of $15.38. The stock's fifty day moving average is $11.19 and its two-hundred day moving average is $10.17.

CorMedix (NASDAQ:CRMD - Get Free Report) last issued 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 company had revenue of $39.08 million during the quarter, compared to analyst estimates of $38.90 million. CorMedix had a return on equity of 22.57% and a net margin of 20.81%. During the same period in the prior year, the business posted ($0.25) earnings per share. On average, equities analysts expect that CorMedix will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CRMD. SBI Securities Co. Ltd. lifted its stake in CorMedix by 699.7% during the first quarter. SBI Securities Co. Ltd. now owns 8,685 shares of the company's stock worth $54,000 after purchasing an additional 7,599 shares in the last quarter. Essex Financial Services Inc. acquired a new stake in shares of CorMedix in the first quarter valued at $63,000. EntryPoint Capital LLC acquired a new stake in shares of CorMedix in the first quarter valued at $66,000. KLP Kapitalforvaltning AS acquired a new stake in shares of CorMedix in the first quarter valued at $72,000. Finally, Captrust Financial Advisors acquired a new stake in shares of CorMedix in the fourth quarter valued at $90,000. 34.18% of the stock is currently owned by institutional investors and hedge funds.

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.