CorMedix (NASDAQ:CRMD) Stock Rating Lowered by D. Boral Capital

CorMedix (NASDAQ:CRMD - Get Free Report) was downgraded by equities research analysts at D. Boral Capital from a "buy" rating to a "hold" rating in a report issued on Monday, Marketbeat.com reports.

Other equities research analysts have also issued research reports about the stock. Leerink Partners initiated coverage on shares of CorMedix in a research note on Friday, March 7th. They set an "outperform" rating and a $18.00 target price on the stock. Royal Bank Of Canada raised CorMedix from an "outperform" rating to a "moderate buy" rating and lifted their price objective for the company from $13.00 to $17.00 in a research report on Friday, June 20th. Wall Street Zen upgraded CorMedix from a "sell" rating to a "hold" rating in a report on Tuesday, April 1st. Needham & Company LLC raised their target price on CorMedix from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, Leerink Partnrs upgraded CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. Three 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.14.

CorMedix Price Performance

NASDAQ:CRMD traded up $0.05 during mid-day trading on Monday, reaching $11.64. 1,079,245 shares of the company's stock traded hands, compared to its average volume of 1,342,404. The firm has a market capitalization of $789.42 million, a price-to-earnings ratio of 52.68 and a beta of 1.58. CorMedix has a 12-month low of $3.61 and a 12-month high of $17.43. The company has a 50 day moving average price of $12.47 and a 200-day moving average price of $10.49.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The company 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 firm posted ($0.25) earnings per share. As a group, analysts forecast that CorMedix will post -0.32 EPS for the current year.

Institutional Trading of CorMedix

A number of hedge funds have recently made changes to their positions in CRMD. Vanguard Group Inc. raised its stake in CorMedix by 7.9% during the first quarter. Vanguard Group Inc. now owns 3,646,551 shares of the company's stock valued at $22,463,000 after buying an additional 268,360 shares during the last quarter. Elliott Investment Management L.P. increased its holdings in shares of CorMedix by 85.1% during the fourth quarter. Elliott Investment Management L.P. now owns 2,870,632 shares of the company's stock valued at $23,252,000 after acquiring an additional 1,320,109 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of CorMedix by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 1,392,820 shares of the company's stock valued at $11,284,000 after acquiring an additional 108,356 shares in the last quarter. Northern Trust Corp raised its position in shares of CorMedix by 14.4% in the 4th quarter. Northern Trust Corp now owns 511,565 shares of the company's stock worth $4,144,000 after purchasing an additional 64,243 shares during the last quarter. Finally, J. Goldman & Co LP boosted its stake in CorMedix by 221.1% in the 4th quarter. J. Goldman & Co LP now owns 457,320 shares of the company's stock worth $3,704,000 after purchasing an additional 314,880 shares in the last quarter. 34.18% of the stock is owned by institutional investors.

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.