CorMedix's (CRMD) "Buy" Rating Reaffirmed at D. Boral Capital

CorMedix (NASDAQ:CRMD - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at D. Boral Capital in a report released on Tuesday,Benzinga reports. They presently have a $15.00 price objective on the stock. D. Boral Capital's target price would indicate a potential upside of 117.08% from the company's previous close.

CRMD has been the topic of several other research reports. StockNews.com raised CorMedix from a "sell" rating to a "hold" rating in a research note on Tuesday, April 1st. Needham & Company LLC decreased their target price on shares of CorMedix from $18.00 to $12.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. Leerink Partners started coverage on shares of CorMedix in a research report on Friday, March 7th. They issued an "outperform" rating and a $18.00 price target for the company. Leerink Partnrs upgraded shares of CorMedix to a "strong-buy" rating in a research note on Friday, March 7th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $12.00 price target on shares of CorMedix in a research note on Wednesday, March 26th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $14.50.

CorMedix Price Performance

Shares of CRMD traded up $0.07 on Tuesday, reaching $6.91. The company's stock had a trading volume of 727,514 shares, compared to its average volume of 1,019,311. CorMedix has a 12-month low of $3.61 and a 12-month high of $13.85. The stock has a market capitalization of $450.41 million, a P/E ratio of -8.53 and a beta of 1.57. The stock's 50 day simple moving average is $9.21 and its two-hundred day simple moving average is $9.83.

CorMedix (NASDAQ:CRMD - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The business had revenue of $30.00 million for the quarter, compared to analysts' expectations of $27.46 million. The company's revenue was up 29900.0% on a year-over-year basis. Analysts expect that CorMedix will post -0.32 earnings per share for the current year.

Institutional Trading of CorMedix

Hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in shares of CorMedix by 7.7% in the first quarter. Rhumbline Advisers now owns 81,565 shares of the company's stock worth $502,000 after buying an additional 5,818 shares in the last quarter. Palisades Investment Partners LLC bought a new position in shares of CorMedix during the 4th quarter valued at approximately $2,949,000. Two Sigma Investments LP boosted its position in shares of CorMedix by 19.7% during the 4th quarter. Two Sigma Investments LP now owns 31,489 shares of the company's stock valued at $255,000 after acquiring an additional 5,189 shares during the last quarter. Rafferty Asset Management LLC purchased a new position in shares of CorMedix in the fourth quarter valued at $120,000. Finally, ProShare Advisors LLC increased its position in CorMedix by 92.2% in the fourth quarter. ProShare Advisors LLC now owns 19,947 shares of the company's stock worth $162,000 after purchasing an additional 9,568 shares during the last quarter. Hedge funds and other institutional investors own 34.18% of the company's stock.

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.