CorMedix (NASDAQ:CRMD - Get Free Report) released its earnings results on Tuesday. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.05, Zacks reports. The company had revenue of $39.08 million for the quarter, compared to analyst estimates of $38.90 million. During the same quarter in the previous year, the firm earned ($0.25) EPS.
CorMedix Price Performance
Shares of CRMD traded down $0.37 on Friday, reaching $11.66. The company's stock had a trading volume of 4,579,383 shares, compared to its average volume of 1,134,917. The stock's 50 day simple moving average is $8.73 and its two-hundred day simple moving average is $9.75. The stock has a market capitalization of $790.84 million, a P/E ratio of -14.39 and a beta of 1.54. CorMedix has a 12-month low of $3.61 and a 12-month high of $13.85.
Analyst Ratings Changes
A number of research analysts have recently issued reports on CRMD shares. Leerink Partners initiated coverage on shares of CorMedix in a report on Friday, March 7th. They set an "outperform" rating and a $18.00 price objective for the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $12.00 price objective on shares of CorMedix in a research note on Wednesday, March 26th. D. Boral Capital restated a "buy" rating and issued a $15.00 price objective on shares of CorMedix in a research report on Tuesday, May 6th. Leerink Partnrs upgraded CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. Finally, Needham & Company LLC increased their target price on CorMedix from $12.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $15.00.
View Our Latest Research Report on CRMD
About CorMedix
(
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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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