CorMedix (NASDAQ:CRMD) Stock Price Up 4.5% - Should You Buy?

Key Points

• CorMedix Inc (NASDAQ:CRMD) shares rose by 4.5% during trading, with the stock last traded at $13.32.
• Analyst ratings for CorMedix have varied, with one research firm downgrading its rating from "strong-buy" to "hold," while others maintain "buy" ratings and set target prices ranging from $17.00 to $22.00.
• In its latest earnings report, CorMedix posted $0.28 earnings per share, exceeding estimates, with a significant year-over-year revenue growth of 4830.1%.

CorMedix Inc (NASDAQ:CRMD - Get Free Report)'s stock price rose 4.5% during mid-day trading on Tuesday . The stock traded as high as $13.49 and last traded at $13.32. Approximately 1,153,260 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 2,176,812 shares. The stock had previously closed at $12.75.

Wall Street Analysts Forecast Growth

CRMD has been the subject of several analyst reports. D Boral Capital lowered CorMedix from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 30th. D. Boral Capital lowered CorMedix from a "buy" rating to a "hold" rating in a research note on Monday, June 30th. JMP Securities reissued a "market outperform" rating and set a $22.00 price target on shares of CorMedix in a research note on Tuesday, September 9th. Royal Bank Of Canada raised CorMedix from an "outperform" rating to a "moderate buy" rating and raised their price target for the stock from $13.00 to $17.00 in a research note on Friday, June 20th. Finally, Needham & Company LLC raised their price target on CorMedix from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.00.

CorMedix Trading Down 1.1%

The firm's 50-day moving average price is $12.31 and its two-hundred day moving average price is $11.22. The stock has a market cap of $965.97 million, a PE ratio of 17.25 and a beta of 1.76.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.08. The firm had revenue of $39.74 million during the quarter, compared to analysts' expectations of $29.88 million. CorMedix had a net margin of 42.11% and a return on equity of 42.73%. The company's revenue was up 4830.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.25) EPS. On average, analysts anticipate that CorMedix Inc will post -0.32 earnings per share for the current year.

Insider Transactions at CorMedix

In related news, insider Kaufman Beth Zelnick sold 50,000 shares of the company's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $13.41, for a total transaction of $670,500.00. Following the transaction, the insider directly owned 180,418 shares of the company's stock, valued at $2,419,405.38. This represents a 21.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joseph Todisco sold 50,000 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $13.00, for a total value of $650,000.00. Following the transaction, the chief executive officer directly owned 509,496 shares in the company, valued at $6,623,448. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 153,997 shares of company stock valued at $2,032,317. Corporate insiders own 5.30% of the company's stock.

Institutional Trading of CorMedix

Several large investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its stake in CorMedix by 11.9% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 13,622 shares of the company's stock valued at $168,000 after purchasing an additional 1,451 shares during the last quarter. Squarepoint Ops LLC grew its stake in CorMedix by 337.9% during the 2nd quarter. Squarepoint Ops LLC now owns 290,832 shares of the company's stock valued at $3,583,000 after purchasing an additional 224,412 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in CorMedix by 1,088.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,032 shares of the company's stock valued at $111,000 after purchasing an additional 8,272 shares during the last quarter. Militia Capital Partners LP purchased a new stake in CorMedix during the 2nd quarter valued at about $1,232,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in CorMedix during the 2nd quarter valued at about $5,115,000. 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.