Analysts Issue Forecasts for CorMedix FY2027 Earnings

CorMedix Inc (NASDAQ:CRMD - Free Report) - HC Wainwright issued their FY2027 earnings per share (EPS) estimates for shares of CorMedix in a research note issued on Monday, June 30th. HC Wainwright analyst B. Folkes anticipates that the company will post earnings of $1.89 per share for the year. HC Wainwright has a "Buy" rating and a $20.00 price objective on the stock. The consensus estimate for CorMedix's current full-year earnings is ($0.32) per share. HC Wainwright also issued estimates for CorMedix's FY2028 earnings at $2.28 EPS.

Other equities research analysts have also recently issued reports about the stock. D. Boral Capital cut shares of CorMedix from a "buy" rating to a "hold" rating in a research report on Monday. Needham & Company LLC boosted their target price on CorMedix from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Leerink Partners started coverage on shares of CorMedix in a research report on Friday, March 7th. They set an "outperform" rating and a $18.00 price objective for the company. Wall Street Zen upgraded shares of CorMedix from a "sell" rating to a "hold" rating in a research note on Tuesday, April 1st. Finally, Leerink Partnrs raised CorMedix to a "strong-buy" rating in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $17.14.

CorMedix Trading Down 1.7%

Shares of CRMD stock traded down $0.20 on Wednesday, reaching $11.59. The company had a trading volume of 1,981,875 shares, compared to its average volume of 1,335,742. The stock has a market cap of $786.03 million, a PE ratio of 52.68 and a beta of 1.58. The company has a 50-day moving average of $12.36 and a 200-day moving average of $10.46. CorMedix has a 12 month low of $3.61 and a 12 month high of $17.43.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. The firm had revenue of $39.08 million for the quarter, compared to analysts' expectations of $38.90 million. CorMedix had a net margin of 20.81% and a return on equity of 22.57%. During the same period last year, the firm earned ($0.25) earnings per share.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 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. Essex Financial Services Inc. acquired a new position in shares of CorMedix in the 1st quarter worth approximately $63,000. EntryPoint Capital LLC acquired a new position in shares of CorMedix in the 1st quarter worth approximately $66,000. KLP Kapitalforvaltning AS bought a new stake in shares of CorMedix in the 1st quarter valued at $72,000. Finally, Captrust Financial Advisors acquired a new stake in shares of CorMedix during the fourth quarter worth $90,000. 34.18% of the stock is 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.