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

CorMedix (NASDAQ:CRMD - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at D. Boral Capital in a research report issued on Monday,Benzinga reports. They currently have a $15.00 target price on the stock. D. Boral Capital's price objective indicates a potential upside of 0.27% from the company's current price.

A number of other equities research analysts have also weighed in on the company. Leerink Partners assumed coverage on CorMedix in a research report on Friday, March 7th. They set an "outperform" rating and a $18.00 price objective on the stock. Wall Street Zen raised CorMedix from a "sell" rating to a "hold" rating in a research note on Tuesday, April 1st. Leerink Partnrs raised shares of CorMedix to a "strong-buy" rating in a research note on Friday, March 7th. Needham & Company LLC lifted their price target on shares of CorMedix from $12.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada upgraded CorMedix from an "outperform" rating to a "moderate buy" rating and raised their target price for the company from $13.00 to $17.00 in a report on Friday, June 20th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $16.67.

CorMedix Stock Performance

Shares of CRMD stock traded down $0.01 during midday trading on Monday, hitting $14.96. 1,299,750 shares of the company were exchanged, compared to its average volume of 1,277,285. CorMedix has a 52 week low of $3.61 and a 52 week high of $17.43. The firm has a market capitalization of $1.01 billion, a P/E ratio of 68.00 and a beta of 1.62. The firm's 50 day moving average price is $11.96 and its two-hundred day moving average price is $10.35.

CorMedix (NASDAQ:CRMD - Get Free Report) last issued 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. CorMedix had a return on equity of 22.57% and a net margin of 20.81%. The firm had revenue of $39.08 million for the quarter, compared to analyst estimates of $38.90 million. During the same period in the prior year, the firm posted ($0.25) EPS. Analysts expect 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. Bank of America Corp DE lifted its holdings in CorMedix by 1.9% during the 4th quarter. Bank of America Corp DE now owns 60,115 shares of the company's stock valued at $487,000 after buying an additional 1,124 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CorMedix by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,987 shares of the company's stock worth $222,000 after purchasing an additional 1,631 shares during the period. Nuveen Asset Management LLC lifted its holdings in CorMedix by 1.0% in the fourth quarter. Nuveen Asset Management LLC now owns 171,978 shares of the company's stock valued at $1,393,000 after acquiring an additional 1,679 shares during the period. Sigma Planning Corp boosted its holdings in CorMedix by 7.8% during the first quarter. Sigma Planning Corp now owns 36,305 shares of the company's stock worth $224,000 after buying an additional 2,612 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CorMedix by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 177,188 shares of the company's stock worth $1,091,000 after acquiring an additional 2,770 shares during the period. 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.