Weiss Ratings Reaffirms Hold (C) Rating for CorMedix (NASDAQ:CRMD)

Key Points

• Weiss Ratings has reaffirmed a "hold (c)" rating for CorMedix (NASDAQ:CRMD), amidst varying opinions from other analysts regarding the stock's potential.
• CorMedix reported a net margin of 42.11% and a revenue increase of 4830.1% year-over-year, with earnings per share beating estimates at $0.28.
• Insider transactions have seen director Alan W. Dunton and CEO Joseph Todisco sell shares, indicating decreased ownership of 19.90% and 8.94%, respectively.

CorMedix (NASDAQ:CRMD - Get Free Report)'s stock had its "hold (c)" rating restated by investment analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Other equities analysts have also issued research reports about the company. HC Wainwright lowered their price target on CorMedix from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Friday, August 8th. D. Boral Capital upgraded CorMedix from a "hold" rating to a "buy" rating and set a $14.00 price target on the stock in a research note on Monday. Zacks Research cut shares of CorMedix from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $22.00 price objective (up from $21.00) on shares of CorMedix in a research report on Tuesday. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 target price on shares of CorMedix in a report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $18.83.

CorMedix Stock Down 1.2%

Shares of NASDAQ:CRMD traded down $0.14 during trading on Friday, hitting $11.17. The stock had a trading volume of 1,841,084 shares, compared to its average volume of 2,401,438. The firm's fifty day moving average is $12.15 and its 200 day moving average is $11.68. The company has a market capitalization of $871.93 million, a PE ratio of 14.89 and a beta of 1.85. CorMedix has a 12 month low of $5.60 and a 12 month high of $17.43.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.08. CorMedix had a net margin of 42.11% and a return on equity of 42.73%. The firm had revenue of $39.74 million for the quarter, compared to analysts' expectations of $29.88 million. During the same quarter in the previous year, the business posted ($0.25) EPS. The company's quarterly revenue was up 4830.1% on a year-over-year basis. Equities research analysts expect that CorMedix will post -0.32 EPS for the current fiscal year.

Insider Transactions at CorMedix

In related news, Director Alan W. Dunton sold 10,000 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $13.13, for a total value of $131,300.00. Following the sale, the director owned 40,250 shares in the company, valued at approximately $528,482.50. The trade was a 19.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Todisco sold 50,000 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $13.00, for a total transaction of $650,000.00. Following the sale, the chief executive officer directly owned 509,496 shares in the company, valued at approximately $6,623,448. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,997 shares of company stock worth $2,163,617. 5.30% of the stock is owned by insiders.

Institutional Trading of CorMedix

A number of large investors have recently made changes to their positions in CRMD. Vanguard Group Inc. raised its position in shares of CorMedix by 7.9% during the 1st 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 in the last quarter. Marshall Wace LLP grew its position in CorMedix by 1,019.2% in the second quarter. Marshall Wace LLP now owns 2,579,976 shares of the company's stock worth $31,785,000 after acquiring an additional 2,349,451 shares in the last quarter. Geode Capital Management LLC increased its stake in CorMedix by 11.4% during the second quarter. Geode Capital Management LLC now owns 1,596,322 shares of the company's stock worth $19,669,000 after acquiring an additional 163,403 shares during the last quarter. Palisades Investment Partners LLC raised its position in CorMedix by 56.7% during the second quarter. Palisades Investment Partners LLC now owns 562,527 shares of the company's stock valued at $6,930,000 after purchasing an additional 203,557 shares during the period. Finally, Kennedy Capital Management LLC raised its position in CorMedix by 18.8% during the second quarter. Kennedy Capital Management LLC now owns 480,178 shares of the company's stock valued at $5,916,000 after purchasing an additional 75,947 shares during the period. 34.18% of the stock is currently 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.

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