CorMedix (NASDAQ:CRMD) Issues Quarterly Earnings Results

CorMedix (NASDAQ:CRMD) released its earnings results on Thursday. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07), FiscalAI reports. CorMedix had a return on equity of 40.52% and a net margin of 40.49%. The company had revenue of $54.52 million during the quarter, compared to analysts’ expectations of $51.76 million.

Here are the key takeaways from CorMedix’s conference call:

• CorMedix agreed to acquire substantially all of Heron Therapeutics’ assets, which management expects to add approximately $125 million–$150 million in 2027 revenue and generate $45 million–$60 million in annualized cost synergies by the end of 2027. The deal is expected to be immediately accretive to earnings and free cash flow, subject to closing conditions.
• DefenCath utilization at large dialysis customers largely held steady after the post-TDAPA reimbursement change, and management expects the 2027 add-on payment to remain above the current $2.37 rate. However, the quarterly payment framework and unresolved customer pricing and Medicare Advantage arrangements leave the company unable to provide 2027 DefenCath guidance yet.
• Third-quarter revenue was $54.5 million and adjusted EBITDA was $3.1 million; DefenCath sales were $17.2 million, including a $5 million favorable adjustment to sales allowances. CorMedix maintained its 2026 revenue outlook at $325 million–$345 million and narrowed adjusted EBITDA guidance to $130 million–$140 million, while ending the quarter with $355.2 million in cash.
• The FDA accepted REZZAYO’s supplemental application for prophylaxis with priority review and a target decision in the first quarter of 2027. CorMedix is preparing for a potential launch in the second half of 2027 if approved.
• Enrollment in the phase III TPN study for DefenCath remains meaningfully behind schedule despite added sites and a protocol amendment. Management is evaluating alternative FDA pathways and expects to decide on the study strategy before its next quarterly update.

CorMedix Price Performance

NASDAQ CRMD traded down $0.46 during trading hours on Thursday, reaching $4.84. The company’s stock had a trading volume of 2,947,331 shares, compared to its average volume of 1,614,626. CorMedix has a 1 year low of $4.82 and a 1 year high of $13.02. The company has a quick ratio of 2.36, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $377.64 million, a price-to-earnings ratio of 2.26, a PEG ratio of 1.00 and a beta of 1.48. The firm’s 50-day moving average price is $7.33 and its 200-day moving average price is $7.60.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Needham & Company LLC boosted their target price on CorMedix from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings cut shares of CorMedix from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Royal Bank Of Canada raised their price target on shares of CorMedix from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday. UBS Group set a $19.00 price target on shares of CorMedix in a research note on Tuesday. Finally, Oppenheimer began coverage on shares of CorMedix in a report on Wednesday, September 23rd. They set an “outperform” rating and a $15.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.44.

CorMedix Company Profile

CorMedix Inc. is a biopharmaceutical company focused on products for infectious and inflammatory diseases. Its lead product, DefenCath, is an antimicrobial catheter-lock solution containing taurolidine and heparin. The U.S. Food and Drug Administration approved it to reduce catheter-related bloodstream infections in adults with kidney failure who receive chronic hemodialysis through a central venous catheter. CorMedix expanded its business in 2024 by acquiring Melinta Therapeutics, adding marketed antibiotics to its portfolio.