CorMedix (NASDAQ:CRMD) Receives Buy Rating from D. Boral Capital

CorMedix (NASDAQ:CRMD - Get Free Report)'s stock had its "buy" rating restated by analysts at D. Boral Capital in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $15.00 target price on the stock. D. Boral Capital's target price would indicate a potential upside of 41.04% from the stock's current price.

CRMD has been the subject of a number of other research reports. Leerink Partnrs upgraded CorMedix to a "strong-buy" rating in a research note on Friday, March 7th. StockNews.com upgraded shares of CorMedix from a "sell" rating to a "hold" rating in a report on Tuesday, April 1st. Royal Bank of Canada reissued an "outperform" rating and set a $12.00 price target on shares of CorMedix in a research report on Wednesday, March 26th. Leerink Partners started coverage on CorMedix in a research note on Friday, March 7th. They issued an "outperform" rating and a $18.00 price target on the stock. Finally, Needham & Company LLC reissued a "buy" rating and issued a $12.00 target price on shares of CorMedix in a research note on Wednesday, April 9th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $14.50.

CorMedix Stock Performance

CRMD stock traded up $1.61 on Tuesday, reaching $10.64. The company's stock had a trading volume of 1,296,296 shares, compared to its average volume of 1,051,766. The firm has a market cap of $721.16 million, a PE ratio of -13.12 and a beta of 1.54. The business has a fifty day simple moving average of $8.60 and a two-hundred day simple moving average of $9.75. CorMedix has a 12-month low of $3.61 and a 12-month high of $13.85.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. During the same quarter in the prior year, the business posted ($0.25) EPS. As a group, research analysts anticipate that CorMedix will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of CorMedix

A number of large investors have recently made changes to their positions in CRMD. Vanguard Group Inc. grew its position in CorMedix by 10.1% in the 4th quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company's stock worth $27,363,000 after purchasing an additional 309,514 shares during the period. Elliott Investment Management L.P. lifted its holdings in CorMedix by 85.1% in the fourth quarter. Elliott Investment Management L.P. now owns 2,870,632 shares of the company's stock valued at $23,252,000 after acquiring an additional 1,320,109 shares during the period. Geode Capital Management LLC boosted its position in CorMedix by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 1,392,820 shares of the company's stock worth $11,284,000 after purchasing an additional 108,356 shares during the last quarter. Northern Trust Corp grew its stake in shares of CorMedix by 14.4% during the 4th quarter. Northern Trust Corp now owns 511,565 shares of the company's stock valued at $4,144,000 after purchasing an additional 64,243 shares during the period. Finally, J. Goldman & Co LP increased its position 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 valued at $3,704,000 after purchasing an additional 314,880 shares during the last quarter. 34.18% of the stock is currently owned by institutional investors.

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.

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