D Boral Capital Downgrades CorMedix (NASDAQ:CRMD) to Hold

CorMedix (NASDAQ:CRMD - Get Free Report) was downgraded by D Boral Capital from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

CRMD has been the topic of a number of other research reports. Leerink Partnrs raised CorMedix to a "strong-buy" rating in a report on Friday, March 7th. D. Boral Capital downgraded CorMedix from a "buy" rating to a "hold" rating in a research note on Monday. Leerink Partners began coverage on CorMedix in a research report on Friday, March 7th. They issued an "outperform" rating and a $18.00 price objective for the company. Wall Street Zen raised CorMedix from a "sell" rating to a "hold" rating in a report on Tuesday, April 1st. Finally, Royal Bank Of Canada raised shares of CorMedix from an "outperform" rating to a "moderate buy" rating and upped their price target for the stock from $13.00 to $17.00 in a research note on Friday, June 20th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.14.

CorMedix Trading Up 0.4%

Shares of CorMedix stock traded up $0.05 during trading hours on Monday, hitting $11.64. 1,079,245 shares of the company were exchanged, compared to its average volume of 1,342,404. The business has a 50-day moving average of $12.52 and a 200-day moving average of $10.51. CorMedix has a 1 year low of $3.61 and a 1 year high of $17.43. The stock has a market capitalization of $789.42 million, a price-to-earnings ratio of 52.91 and a beta of 1.58.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The company had revenue of $39.08 million during the quarter, compared to the consensus estimate of $38.90 million. CorMedix had a net margin of 20.81% and a return on equity of 22.57%. During the same quarter in the prior year, the firm earned ($0.25) EPS. As a group, research analysts anticipate that CorMedix will post -0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CorMedix

Several hedge funds have recently added to or reduced their stakes in CRMD. SBI Securities Co. Ltd. lifted its holdings in shares of CorMedix by 699.7% in the first quarter. SBI Securities Co. Ltd. now owns 8,685 shares of the company's stock valued at $54,000 after purchasing an additional 7,599 shares in the last quarter. Essex Financial Services Inc. purchased a new stake in CorMedix in the 1st quarter valued at approximately $63,000. EntryPoint Capital LLC acquired a new stake in CorMedix during the 1st quarter valued at $66,000. KLP Kapitalforvaltning AS purchased a new position in CorMedix during the first quarter worth $72,000. Finally, Captrust Financial Advisors purchased a new position in CorMedix during the fourth quarter worth $90,000. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

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.