D. Boral Capital Reiterates "Buy" Rating for CorMedix (NASDAQ:CRMD)

CorMedix (NASDAQ:CRMD - Get Free Report)'s stock had its "buy" rating reiterated by stock 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 price target would suggest a potential upside of 28.64% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Leerink Partners assumed coverage on shares of CorMedix in a research report on Friday, March 7th. They set an "outperform" rating and a $18.00 target price for the company. Royal Bank of Canada restated an "outperform" rating and set a $12.00 price objective on shares of CorMedix in a research report on Wednesday, March 26th. Needham & Company LLC reissued a "buy" rating and set a $12.00 price target on shares of CorMedix in a research report on Wednesday, April 9th. Leerink Partnrs upgraded CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. Finally, StockNews.com upgraded CorMedix from a "sell" rating to a "hold" rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned 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 price target of $15.00.

CorMedix Trading Down 3.1 %

NASDAQ:CRMD traded down $0.37 during trading hours on Tuesday, hitting $11.66. The company's stock had a trading volume of 4,579,383 shares, compared to its average volume of 1,134,917. CorMedix has a 52-week low of $3.61 and a 52-week high of $13.85. The stock has a market capitalization of $790.84 million, a P/E ratio of -14.39 and a beta of 1.54. The stock has a fifty day moving average of $8.73 and a 200-day moving average of $9.75.

CorMedix (NASDAQ:CRMD - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $38.90 million. During the same quarter in the prior year, the firm posted ($0.25) earnings per share. On average, sell-side analysts forecast that CorMedix will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On CorMedix

Several institutional investors and hedge funds have recently bought and sold shares of CRMD. Charles Schwab Investment Management Inc. grew its stake in shares of CorMedix by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 177,188 shares of the company's stock valued at $1,091,000 after buying an additional 2,770 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of CorMedix by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 3,646,551 shares of the company's stock valued at $22,463,000 after purchasing an additional 268,360 shares in the last quarter. XTX Topco Ltd lifted its stake in shares of CorMedix by 234.2% in the 1st quarter. XTX Topco Ltd now owns 39,333 shares of the company's stock valued at $242,000 after purchasing an additional 27,562 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in CorMedix in the first quarter worth $93,000. Finally, KLP Kapitalforvaltning AS acquired a new position in CorMedix during the first quarter worth $72,000. Hedge funds and other institutional investors own 34.18% of the company's stock.

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.