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

Key Points

• Moderate Buy consensus from eight analysts (six buys, one hold, one sell) with an average 1‑year price target of $15.00.
• Board approved a $75 million stock buyback to repurchase up to 12.3% of shares, signaling management believes the stock may be undervalued.
• Latest quarter showed a large EPS miss ($0.16 vs. $0.86 expected) despite revenue of $128.62M (up 312% YoY); shares trade around $7.73 with a market cap of ~$606M and a 52‑week range of $6.13–$17.43.

CorMedix Inc (NASDAQ:CRMD - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $15.00.

A number of equities research analysts recently weighed in on CRMD shares. Zacks Research lowered shares of CorMedix from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 10th. D. Boral Capital reiterated a "buy" rating and issued a $14.00 price objective on shares of CorMedix in a report on Monday, April 27th. Royal Bank Of Canada reissued an "outperform" rating and issued a $14.00 price objective (up from $13.00) on shares of CorMedix in a research report on Tuesday, April 28th. Needham & Company LLC raised their target price on CorMedix from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of CorMedix in a research report on Wednesday, January 21st.

CorMedix Stock Performance

Shares of NASDAQ:CRMD opened at $7.73 on Wednesday. The company has a market cap of $606.34 million, a P/E ratio of 3.87 and a beta of 1.46. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.94 and a current ratio of 2.11. CorMedix has a one year low of $6.13 and a one year high of $17.43. The business's 50-day simple moving average is $7.00 and its 200 day simple moving average is $8.83.

CorMedix (NASDAQ:CRMD - Get Free Report) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.70). CorMedix had a return on equity of 52.30% and a net margin of 52.31%.The company had revenue of $128.62 million during the quarter, compared to analysts' expectations of $127.02 million. During the same quarter in the prior year, the company earned $0.22 EPS. The firm's revenue was up 312.1% compared to the same quarter last year. On average, sell-side analysts forecast that CorMedix will post 0.44 earnings per share for the current fiscal year.

CorMedix declared that its board has approved a stock buyback plan on Monday, February 2nd that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Institutional Trading of CorMedix

Institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. bought a new position in CorMedix during the 4th quarter valued at $25,000. Comerica Bank increased its position in shares of CorMedix by 454.6% in the 3rd quarter. Comerica Bank now owns 2,690 shares of the company's stock worth $31,000 after purchasing an additional 2,205 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of CorMedix in the 2nd quarter valued at about $42,000. Kestra Advisory Services LLC acquired a new stake in shares of CorMedix in the 4th quarter valued at about $49,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of CorMedix by 666.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 4,385 shares of the company's stock worth $51,000 after purchasing an additional 3,813 shares during the last quarter. 34.18% of the stock is owned by institutional investors and hedge funds.

About CorMedix

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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