CorMedix (NASDAQ:CRMD) Releases Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• CorMedix beat quarterly estimates, reporting EPS of $0.29 versus the $0.24 consensus and revenue of $101.93 million compared with expectations of $96.04 million. Second-quarter revenue included $66.1 million from DefenCath and $35.8 million from the acquired Melinta portfolio.
• The company reaffirmed 2026 revenue guidance of $325 million to $345 million and raised adjusted EBITDA guidance to $125 million to $140 million. It also signed a multi-year DefenCath supply agreement with a fifth major U.S. dialysis provider, with a pilot involving several hundred clinics planned for the third quarter.
• DefenCath growth remains mixed: larger-provider volumes have stabilized, but smaller-account attrition followed TDAPA expiration. Analysts maintain a “Moderate Buy” consensus with an average price target of $14.86, while CorMedix expects a potential REZZAYO sNDA submission in the third quarter.

CorMedix (NASDAQ:CRMD - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05, FiscalAI reports. CorMedix had a net margin of 45.25% and a return on equity of 45.57%. The firm had revenue of $101.93 million for the quarter, compared to analyst estimates of $96.04 million.

Here are the key takeaways from CorMedix's conference call:

• Second-quarter revenue rose to $101.9 million, including $66.1 million from DefenCath and $35.8 million from the acquired Melinta portfolio; adjusted EBITDA increased to $58.7 million.
• CorMedix signed a multi-year DefenCath supply agreement with its fifth major U.S. dialysis provider. The LDO will begin a pilot involving several hundred clinics in the third quarter, with potential expansion in 2027.
• The company reaffirmed 2026 revenue guidance of $325 million to $345 million and raised adjusted EBITDA guidance to $125 million to $140 million, while noting that post-TDAPA ordering patterns remain an uncertainty.
• CorMedix expects Mundipharma to submit an sNDA for REZZAYO as prophylaxis against invasive fungal disease in the third quarter, potentially leading to FDA action in the first half of 2027 following positive Phase III results.
• DefenCath volumes have stabilized among larger dialysis providers but experienced some attrition among smaller accounts after TDAPA expiration; meaningful volume growth may depend on the new LDO pilot and Medicare Advantage contracting, which is not included in 2026 guidance.

CorMedix Stock Performance

CorMedix stock traded up $0.85 during trading hours on Thursday, reaching $7.95. 3,872,516 shares of the stock were exchanged, compared to its average volume of 1,715,410. The stock has a market cap of $623.46 million, a P/E ratio of 3.76 and a beta of 1.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 2.97. CorMedix has a 52-week low of $6.13 and a 52-week high of $14.96. The firm's 50 day moving average is $8.17 and its 200 day moving average is $7.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CRMD. Comerica Bank lifted its position in CorMedix by 454.6% in the third quarter. Comerica Bank now owns 2,690 shares of the company's stock valued at $31,000 after purchasing an additional 2,205 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of CorMedix during the 2nd quarter worth approximately $42,000. Kestra Advisory Services LLC acquired a new stake in shares of CorMedix in the 4th quarter valued at approximately $49,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of CorMedix by 666.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 4,385 shares of the company's stock valued at $51,000 after buying an additional 3,813 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of CorMedix in the third quarter valued at approximately $55,000. 34.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CorMedix in a report on Tuesday. D. Boral Capital reissued a "buy" rating and issued a $14.00 target price on shares of CorMedix in a report on Monday, April 27th. Citizens Jmp reissued a "market outperform" rating and issued a $19.00 target price on shares of CorMedix in a research report on Tuesday, April 28th. Leerink Partners raised their price target on CorMedix from $13.00 to $14.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Finally, Zacks Research raised CorMedix from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $14.86.

About CorMedix

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company's lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source