CorMedix (NASDAQ:CRMD) Reaches New 12-Month High - Still a Buy?

CorMedix Inc. (NASDAQ:CRMD - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $13.99 and last traded at $13.98, with a volume of 2515656 shares changing hands. The stock had previously closed at $13.18.

Analyst Ratings Changes

Several equities research analysts have weighed in on CRMD shares. D. Boral Capital reiterated a "buy" rating and issued a $15.00 target price on shares of CorMedix in a report on Tuesday, May 6th. Wall Street Zen raised CorMedix from a "sell" rating to a "hold" rating in a research note on Tuesday, April 1st. Leerink Partners initiated coverage on CorMedix in a report on Friday, March 7th. They issued an "outperform" rating and a $18.00 price target for the company. Leerink Partnrs raised CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $12.00 price objective on shares of CorMedix in a research report on Wednesday, March 26th. One research 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 stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $15.00.

CorMedix Price Performance

The company has a market capitalization of $948.19 million, a price-to-earnings ratio of -17.26 and a beta of 1.62. The firm has a 50-day moving average price of $9.77 and a two-hundred day moving average price of $9.91.

CorMedix (NASDAQ:CRMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The firm had revenue of $39.08 million for the quarter, compared to analyst estimates of $38.90 million. During the same period last year, the company earned ($0.25) EPS. On average, equities analysts predict that CorMedix Inc. will post -0.32 EPS for the current year.

Institutional Investors Weigh In On CorMedix

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRMD. SBI Securities Co. Ltd. increased its position 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 acquiring an additional 7,599 shares during the last quarter. Essex Financial Services Inc. acquired a new position in shares of CorMedix during the 1st quarter worth approximately $63,000. EntryPoint Capital LLC bought a new position in shares of CorMedix in the first quarter valued at $66,000. KLP Kapitalforvaltning AS acquired a new position in CorMedix during the first quarter worth $72,000. Finally, Janney Montgomery Scott LLC bought a new stake in CorMedix during the fourth quarter worth $81,000. 34.18% of the stock is owned by 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.

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