Shares of CorMedix Inc (NASDAQ:CRMD - Get Free Report) saw an uptick in trading volume on Thursday . 2,293,197 shares changed hands during trading, an increase of 33% from the previous session's volume of 1,728,025 shares.The stock last traded at $10.24 and had previously closed at $11.95.
Analyst Ratings Changes
Several research analysts have recently issued reports on the stock. Needham & Company LLC raised their target price on shares of CorMedix from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. HC Wainwright started coverage on CorMedix in a report on Monday, June 30th. They set a "buy" rating and a $20.00 target price for the company. D Boral Capital downgraded shares of CorMedix from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 30th. Royal Bank Of Canada raised shares of 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 research note on Friday, June 20th. Finally, D. Boral Capital downgraded CorMedix from a "buy" rating to a "hold" rating in a research note on Monday, June 30th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $17.14.
Read Our Latest Analysis on CorMedix
CorMedix Stock Down 8.4%
The firm has a 50 day moving average of $12.59 and a two-hundred day moving average of $10.83. The firm has a market capitalization of $742.36 million, a price-to-earnings ratio of 49.73 and a beta of 1.71.
CorMedix (NASDAQ:CRMD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.17 by $0.11. CorMedix had a net margin of 20.81% and a return on equity of 22.57%. During the same period in the prior year, the business posted ($0.25) earnings per share. The business's revenue was up 4830.1% compared to the same quarter last year. Sell-side analysts forecast that CorMedix Inc will post -0.32 EPS for the current fiscal year.
Hedge Funds Weigh In On CorMedix
A number of hedge funds have recently modified their holdings of the business. USA Financial Formulas acquired a new position in CorMedix during the 2nd quarter worth about $55,000. SBI Securities Co. Ltd. lifted its stake in shares of 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 acquiring an additional 7,599 shares during the period. ARS Wealth Advisors Group LLC bought a new stake in CorMedix in the second quarter valued at approximately $123,000. Kapitalo Investimentos Ltda acquired a new stake in CorMedix during the 2nd quarter valued at approximately $123,000. Finally, Essex Financial Services Inc. bought a new position in CorMedix during the 1st quarter worth approximately $63,000. Institutional investors and hedge funds own 34.18% of the company's stock.
CorMedix Company Profile
(
Get Free Report)
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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