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

CorMedix (NASDAQ:CRMD - Get Free Report)'s stock had its "buy" rating reissued by research analysts at D. Boral Capital in a research note issued on Monday,Benzinga reports. They presently have a $15.00 target price on the stock. D. Boral Capital's price objective points to a potential downside of 7.82% from the stock's current price.

A number of other research analysts have also recently commented on the stock. Wall Street Zen raised shares of CorMedix from a "sell" rating to a "hold" rating in a research report on Tuesday, April 1st. Leerink Partners initiated 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. Leerink Partnrs raised shares of CorMedix to a "strong-buy" rating in a report on Friday, March 7th. Needham & Company LLC upped their target price on shares of CorMedix from $12.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada raised shares of CorMedix from an "outperform" rating to a "moderate buy" rating and increased their price target for the stock from $13.00 to $17.00 in a research report on Friday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $15.83.

CorMedix Price Performance

NASDAQ CRMD opened at $16.27 on Monday. The company has a market cap of $1.10 billion, a P/E ratio of 75.09 and a beta of 1.62. CorMedix has a 12 month low of $3.61 and a 12 month high of $17.08. The company has a 50-day moving average of $11.46 and a 200-day moving average of $10.23.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. boosted its holdings in CorMedix by 699.7% in the first quarter. SBI Securities Co. Ltd. now owns 8,685 shares of the company's stock worth $54,000 after purchasing an additional 7,599 shares in the last quarter. Essex Financial Services Inc. acquired a new position in shares of CorMedix during the 1st quarter worth about $63,000. EntryPoint Capital LLC bought a new stake in CorMedix during the 1st quarter valued at approximately $66,000. KLP Kapitalforvaltning AS acquired a new stake in CorMedix in the 1st quarter valued at approximately $72,000. Finally, Captrust Financial Advisors acquired a new stake in CorMedix in the 4th quarter valued at approximately $90,000. 34.18% of the stock is owned by hedge funds and other 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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