CorMedix (NASDAQ:CRMD - Get Free Report)'s stock had its "outperform" rating reissued by analysts at Royal Bank Of Canada in a note issued to investors on Friday,Benzinga reports. They presently have a $17.00 price objective on the stock, up from their prior price objective of $13.00. Royal Bank Of Canada's price target suggests a potential upside of 26.27% from the company's previous close.
CRMD has been the subject of a number of other research reports. Needham & Company LLC boosted their price objective on CorMedix from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. D. Boral Capital restated a "buy" rating and issued a $15.00 price target on shares of CorMedix in a research note on Tuesday, May 6th. Leerink Partnrs raised CorMedix to a "strong-buy" rating in a report on Friday, March 7th. Wall Street Zen upgraded CorMedix from a "sell" rating to a "hold" rating in a research report on Tuesday, April 1st. Finally, Leerink Partners initiated coverage on CorMedix in a report on Friday, March 7th. They set an "outperform" rating and a $18.00 target price for the company. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $15.83.
View Our Latest Analysis on CorMedix
CorMedix Price Performance
CorMedix stock traded down $0.12 during mid-day trading on Friday, hitting $13.46. 258,110 shares of the company's stock traded hands, compared to its average volume of 1,225,321. The firm has a 50 day simple moving average of $11.19 and a two-hundred day simple moving average of $10.17. CorMedix has a fifty-two week low of $3.61 and a fifty-two week high of $15.38. The stock has a market cap of $913.13 million, a price-to-earnings ratio of 61.54 and a beta of 1.62.
CorMedix (NASDAQ:CRMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. CorMedix had a net margin of 20.81% and a return on equity of 22.57%. The company had revenue of $39.08 million during the quarter, compared to analysts' expectations of $38.90 million. During the same quarter last year, the company posted ($0.25) EPS. On average, research analysts anticipate that CorMedix will post -0.32 earnings per share for the current fiscal year.
Institutional Trading of CorMedix
Institutional investors have recently modified their holdings of the stock. Elliott Investment Management L.P. lifted its position in CorMedix by 85.1% during the fourth quarter. Elliott Investment Management L.P. now owns 2,870,632 shares of the company's stock worth $23,252,000 after purchasing an additional 1,320,109 shares during the period. Palisades Investment Partners LLC acquired a new position in shares of CorMedix in the 4th quarter valued at approximately $2,949,000. J. Goldman & Co LP lifted its holdings in shares of CorMedix by 221.1% during the 4th quarter. J. Goldman & Co LP now owns 457,320 shares of the company's stock worth $3,704,000 after acquiring an additional 314,880 shares during the period. Vanguard Group Inc. boosted its position in shares of CorMedix by 10.1% during the 4th quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company's stock worth $27,363,000 after acquiring an additional 309,514 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of CorMedix during the 1st quarter worth approximately $1,692,000. 34.18% of the stock is currently owned by institutional investors.
About CorMedix
(
Get Free Report)
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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