Analysts at HC Wainwright started coverage on shares of CorMedix (NASDAQ:CRMD - Get Free Report) in a research note issued on Monday, Marketbeat reports. The firm set a "buy" rating and a $20.00 price target on the stock. HC Wainwright's target price indicates a potential upside of 69.64% from the company's previous close. HC Wainwright also issued estimates for CorMedix's Q2 2025 earnings at $0.20 EPS, Q3 2025 earnings at $0.23 EPS, Q4 2025 earnings at $0.28 EPS, FY2025 earnings at $1.02 EPS, FY2026 earnings at $1.67 EPS and FY2029 earnings at $2.35 EPS.
A number of other research analysts have also recently issued reports on CRMD. Needham & Company LLC raised their price objective on CorMedix from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. D. Boral Capital reaffirmed a "buy" rating and issued a $15.00 price target on shares of CorMedix in a research note on Monday, June 23rd. Leerink Partners assumed coverage on CorMedix in a research note on Friday, March 7th. They set an "outperform" rating and a $18.00 price objective for the company. Leerink Partnrs upgraded shares of CorMedix to a "strong-buy" rating in a report on Friday, March 7th. Finally, Royal Bank Of Canada upgraded shares of CorMedix from an "outperform" rating to a "moderate buy" rating and upped their price target for the company from $13.00 to $17.00 in a report on Friday, June 20th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.14.
Get Our Latest Stock Report on CorMedix
CorMedix Stock Down 4.3%
Shares of CorMedix stock traded down $0.53 during trading on Monday, hitting $11.79. 2,835,625 shares of the stock traded hands, compared to its average volume of 1,333,148. The stock has a market cap of $799.60 million, a price-to-earnings ratio of 53.59 and a beta of 1.58. CorMedix has a 52 week low of $3.61 and a 52 week high of $17.43. The firm's fifty day moving average is $12.36 and its 200-day moving average is $10.46.
CorMedix (NASDAQ:CRMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. The business had revenue of $39.08 million for the quarter, compared to analysts' expectations of $38.90 million. CorMedix had a net margin of 20.81% and a return on equity of 22.57%. During the same period last year, the business earned ($0.25) earnings per share. On average, analysts forecast that CorMedix will post -0.32 earnings per share for the current fiscal year.
Institutional Investors Weigh In On CorMedix
Institutional investors and hedge funds have recently modified their holdings of the stock. Swedbank AB purchased a new stake in CorMedix in the first quarter worth about $1,540,000. Rhumbline Advisers lifted its stake in shares of CorMedix by 7.7% in the 1st quarter. Rhumbline Advisers now owns 81,565 shares of the company's stock valued at $502,000 after purchasing an additional 5,818 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 in the last quarter. Graham Capital Management L.P. bought a new stake in shares of CorMedix during the first quarter valued at approximately $648,000. Finally, Caption Management LLC purchased a new stake in CorMedix in the first quarter worth $113,000. 34.18% of the stock is owned by hedge funds and other institutional investors.
About CorMedix
(
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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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