CorMedix Inc (NASDAQ:CRMD) Receives $14.86 Average Price Target from Analysts

CorMedix Inc (NASDAQ:CRMD) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $14.8571.

Several equities analysts have recently commented on the stock. D. Boral Capital reissued a “buy” rating and issued a $14.00 target price on shares of CorMedix in a report on Monday, April 27th. Weiss Ratings upgraded shares of CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 14th. Citizens Jmp restated a “market outperform” rating and set a $19.00 price target on shares of CorMedix in a report on Tuesday, April 28th. Needham & Company LLC boosted their target price on shares of CorMedix from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Zacks Research upgraded shares of CorMedix from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th.

CorMedix Trading Down 2.2%

Shares of CorMedix stock opened at $7.87 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.97 and a quick ratio of 2.74. The stock has a market capitalization of $617.40 million, a PE ratio of 3.69 and a beta of 1.48. CorMedix has a 1-year low of $6.13 and a 1-year high of $14.96. The company’s fifty day simple moving average is $8.36 and its 200-day simple moving average is $7.70.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.08. CorMedix had a net margin of 45.25% and a return on equity of 45.57%. The business had revenue of $127.43 million during the quarter, compared to analyst estimates of $104.96 million. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue was up 226.1% on a year-over-year basis. As a group, equities analysts anticipate that CorMedix will post 0.51 earnings per share for the current year.

Institutional Trading of CorMedix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. lifted its position in shares of CorMedix by 150.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 438,629 shares of the company’s stock worth $3,443,000 after purchasing an additional 263,618 shares during the period. Pacer Advisors Inc. lifted its position in CorMedix by 128.7% during the first quarter. Pacer Advisors Inc. now owns 580,620 shares of the company’s stock valued at $3,942,000 after acquiring an additional 326,724 shares during the last quarter. Segall Bryant & Hamill LLC grew its holdings in CorMedix by 107.8% in the first quarter. Segall Bryant & Hamill LLC now owns 126,675 shares of the company’s stock worth $860,000 after purchasing an additional 65,723 shares during the last quarter. Bank of America Corp DE increased its position in shares of CorMedix by 10.9% during the first quarter. Bank of America Corp DE now owns 144,835 shares of the company’s stock worth $983,000 after purchasing an additional 14,266 shares in the last quarter. Finally, Amundi acquired a new position in shares of CorMedix during the first quarter worth $132,000. 34.18% of the stock is owned by hedge funds and other institutional investors.

CorMedix Company Profile

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.