CorMedix (NASDAQ:CRMD) Announces Earnings Results

CorMedix (NASDAQ:CRMD - Get Free Report) announced its earnings results on Tuesday. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.05, Zacks reports. The firm had revenue of $39.08 million during the quarter, compared to the consensus estimate of $38.90 million. During the same quarter in the prior year, the firm posted ($0.25) earnings per share.

CorMedix Price Performance

CorMedix stock traded up $0.21 during midday trading on Friday, reaching $12.24. The company had a trading volume of 1,458,276 shares, compared to its average volume of 1,612,493. The firm's fifty day simple moving average is $8.69 and its 200-day simple moving average is $9.78. CorMedix has a 12-month low of $3.61 and a 12-month high of $13.85. The company has a market capitalization of $829.99 million, a P/E ratio of -15.11 and a beta of 1.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. D. Boral Capital reissued a "buy" rating and set a $15.00 target price on shares of CorMedix in a research report on Tuesday. StockNews.com raised CorMedix from a "sell" rating to a "hold" rating in a report on Tuesday, April 1st. Leerink Partnrs raised shares of CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. Royal Bank of Canada reissued an "outperform" rating and issued a $12.00 price objective on shares of CorMedix in a report on Wednesday, March 26th. Finally, Needham & Company LLC raised 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. One research 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. Based on data from MarketBeat.com, CorMedix has an average rating of "Buy" and a consensus target price of $15.00.

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.