D. Boral Capital Downgrades CorMedix (NASDAQ:CRMD) to Hold

CorMedix (NASDAQ:CRMD - Get Free Report) was downgraded by equities researchers at D. Boral Capital from a "buy" rating to a "hold" rating in a research note issued to investors on Monday,Briefing.com Automated Import reports.

A number of other brokerages also recently issued reports on CRMD. Royal Bank Of Canada raised CorMedix from an "outperform" rating to a "moderate buy" rating and boosted their price target for the company from $13.00 to $17.00 in a report on Friday, June 20th. Needham & Company LLC lifted their target price on shares of CorMedix from $15.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. 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 target on the stock. HC Wainwright began coverage on shares of CorMedix in a report on Monday. They issued a "buy" rating and a $20.00 price objective for the company. Finally, Wall Street Zen raised shares of CorMedix from a "sell" rating to a "hold" rating in a research note on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.14.

CorMedix Price Performance

NASDAQ:CRMD opened at $12.50 on Monday. The company's fifty day moving average price is $12.21 and its 200-day moving average price is $10.43. CorMedix has a 1-year low of $3.61 and a 1-year high of $17.43. The firm has a market capitalization of $847.75 million, a P/E ratio of 56.82 and a beta of 1.62.

CorMedix (NASDAQ:CRMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. The business had revenue of $39.08 million during the quarter, compared to analyst estimates of $38.90 million. CorMedix had a return on equity of 22.57% and a net margin of 20.81%. During the same quarter last year, the business posted ($0.25) EPS. Equities analysts anticipate that CorMedix will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On CorMedix

Large investors have recently added to or reduced their stakes in the stock. Swedbank AB purchased a new stake in shares of CorMedix during the first quarter worth about $1,540,000. Rhumbline Advisers boosted its holdings in CorMedix by 7.7% in the 1st quarter. Rhumbline Advisers now owns 81,565 shares of the company's stock worth $502,000 after buying an additional 5,818 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CorMedix by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,987 shares of the company's stock worth $222,000 after buying an additional 1,631 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in CorMedix during the 1st quarter worth approximately $648,000. Finally, Caption Management LLC acquired a new position in shares of CorMedix during the first quarter valued at approximately $113,000. 34.18% of the stock is currently owned by institutional investors and hedge funds.

About CorMedix

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.