CorMedix (NASDAQ:CRMD) Rating Increased to Hold at StockNews.com

CorMedix (NASDAQ:CRMD) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC dropped their target price on shares of CorMedix from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, March 26th. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price target on shares of CorMedix in a report on Wednesday, March 26th. Leerink Partnrs upgraded shares of CorMedix to a “strong-buy” rating in a report on Friday, March 7th. Leerink Partners started coverage on shares of CorMedix in a report on Friday, March 7th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, D. Boral Capital restated a “buy” rating and set a $15.00 price objective on shares of CorMedix in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.14.

CorMedix Trading Down 2.6 %

Shares of NASDAQ CRMD traded down $0.16 during midday trading on Tuesday, hitting $6.00. 657,987 shares of the company’s stock were exchanged, compared to its average volume of 990,928. CorMedix has a 12-month low of $3.61 and a 12-month high of $13.85. The business’s fifty day moving average price is $10.31 and its two-hundred day moving average price is $9.93. The company has a market cap of $391.09 million, a price-to-earnings ratio of -7.41 and a beta of 1.53.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $30.00 million for the quarter, compared to the consensus estimate of $27.46 million. The business’s revenue was up 29900.0% compared to the same quarter last year. Equities analysts expect that CorMedix will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. FMR LLC boosted its stake in CorMedix by 54.3% during the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after purchasing an additional 1,625 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in CorMedix during the fourth quarter valued at about $81,000. Captrust Financial Advisors bought a new position in shares of CorMedix during the 4th quarter worth about $90,000. Aigen Investment Management LP acquired a new stake in CorMedix during the fourth quarter worth $94,000. Finally, XTX Topco Ltd bought a new stake in shares of CorMedix in the 4th quarter valued at approximately $95,000. 34.18% of the stock is currently owned by institutional investors.

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.