JMP Securities Reiterates "Market Outperform" Rating for CorMedix (NASDAQ:CRMD)

CorMedix (NASDAQ:CRMD - Get Free Report)'s stock had its "market outperform" rating reissued by investment analysts at JMP Securities in a research note issued on Tuesday, Benzinga reports. They presently have a $19.00 price target on the stock. JMP Securities' target price points to a potential upside of 300.00% from the company's current price.

CRMD has been the topic of several other reports. Truist Financial lowered their price target on CorMedix from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, January 31st. Royal Bank of Canada reduced their target price on shares of CorMedix from $10.00 to $9.00 and set an "outperform" rating for the company in a research note on Wednesday, March 13th. Finally, Needham & Company LLC restated a "buy" rating and set a $10.00 price target on shares of CorMedix in a research note on Tuesday.

CorMedix Trading Down 0.2 %

CorMedix stock traded down $0.01 during mid-day trading on Tuesday, hitting $4.75. 438,240 shares of the company's stock were exchanged, compared to its average volume of 440,656. The stock has a market cap of $260.36 million, a P/E ratio of -5.16 and a beta of 1.86. CorMedix has a 1-year low of $2.57 and a 1-year high of $6.09. The stock has a 50 day moving average of $3.64 and a two-hundred day moving average of $3.52.

CorMedix (NASDAQ:CRMD - Get Free Report) last posted its earnings results on Tuesday, March 12th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.05). As a group, research analysts predict that CorMedix will post -0.83 EPS for the current fiscal year.

Insider Activity

In related news, CEO Joseph Todisco purchased 13,561 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was acquired at an average price of $3.74 per share, with a total value of $50,718.14. Following the completion of the acquisition, the chief executive officer now directly owns 352,839 shares in the company, valued at approximately $1,319,617.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of CorMedix

A number of hedge funds and other institutional investors have recently modified their holdings of CRMD. Quantbot Technologies LP acquired a new stake in shares of CorMedix in the first quarter valued at approximately $38,000. Renaissance Technologies LLC acquired a new stake in shares of CorMedix in the third quarter valued at approximately $38,000. Baystate Wealth Management LLC acquired a new stake in shares of CorMedix in the second quarter valued at approximately $40,000. Bayesian Capital Management LP acquired a new stake in shares of CorMedix in the fourth quarter valued at approximately $40,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of CorMedix during the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 34.18% of the company's stock.

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.