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

Shares of CorMedix Inc (NASDAQ:CRMD - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $18.00.

Several analysts have commented on the stock. D Boral Capital downgraded shares of CorMedix from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 30th. Wall Street Zen downgraded shares of CorMedix from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 11th. Weiss Ratings reissued a "hold (c)" rating on shares of CorMedix in a research report on Wednesday, October 8th. Needham & Company LLC boosted their target price on shares of CorMedix from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Finally, JMP Securities reissued a "market outperform" rating and issued a $22.00 target price on shares of CorMedix in a research report on Tuesday, September 9th.

Insider Buying and Selling

In other CorMedix news, CEO Joseph Todisco sold 50,000 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $13.00, for a total transaction of $650,000.00. Following the transaction, the chief executive officer owned 509,496 shares in the company, valued at $6,623,448. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kaufman Beth Zelnick sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $13.41, for a total value of $670,500.00. Following the transaction, the insider owned 180,418 shares in the company, valued at approximately $2,419,405.38. This trade represents a 21.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,997 shares of company stock worth $2,163,617. 5.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CorMedix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas acquired a new position in CorMedix during the first quarter valued at approximately $98,000. Essex Financial Services Inc. bought a new stake in shares of CorMedix in the first quarter valued at approximately $63,000. Swiss National Bank bought a new stake in shares of CorMedix in the first quarter valued at approximately $724,000. Trexquant Investment LP boosted its position in shares of CorMedix by 588.9% in the first quarter. Trexquant Investment LP now owns 135,487 shares of the company's stock valued at $835,000 after acquiring an additional 115,819 shares during the period. Finally, Swedbank AB bought a new stake in shares of CorMedix in the first quarter valued at approximately $1,540,000. Institutional investors and hedge funds own 34.18% of the company's stock.

CorMedix Price Performance

Shares of CRMD opened at $10.18 on Friday. The company has a market capitalization of $794.64 million, a price-to-earnings ratio of 13.57 and a beta of 1.85. CorMedix has a fifty-two week low of $5.60 and a fifty-two week high of $17.43. The business's 50-day moving average is $12.19 and its 200-day moving average is $11.50.

CorMedix (NASDAQ:CRMD - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.08. The company had revenue of $39.74 million for the quarter, compared to the consensus estimate of $29.88 million. CorMedix had a return on equity of 42.73% and a net margin of 42.11%.The firm's quarterly revenue was up 4830.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.25) EPS. Equities research analysts expect that CorMedix will post -0.32 earnings per share for the current fiscal year.

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.

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