CorMedix’s (CRMD) Buy Rating Reiterated at D. Boral Capital

D. Boral Capital reissued their buy rating on shares of CorMedix (NASDAQ:CRMD) in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a $15.00 target price on the stock.

A number of other brokerages also recently weighed in on CRMD. Royal Bank of Canada raised their target price on CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Leerink Partners started coverage on CorMedix in a research note on Friday, March 7th. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, Leerink Partnrs raised CorMedix to a “strong-buy” rating in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $15.14.

CorMedix Stock Down 6.3 %

CRMD stock opened at $6.71 on Tuesday. CorMedix has a 52 week low of $3.61 and a 52 week high of $13.85. The business has a 50-day simple moving average of $10.54 and a 200 day simple moving average of $9.88. The company has a market cap of $407.14 million, a PE ratio of -8.28 and a beta of 1.53.

CorMedix (NASDAQ:CRMD) last issued its earnings results on Tuesday, March 25th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $30.00 million during the quarter, compared to analyst estimates of $27.46 million. The business’s revenue was up 29900.0% on a year-over-year basis. On average, analysts anticipate that CorMedix will post -0.32 EPS for the current fiscal year.

Institutional Trading of CorMedix

Several hedge funds and other institutional investors have recently made changes to their positions in CRMD. Vanguard Group Inc. boosted its position in CorMedix by 10.1% during the 4th quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company’s stock worth $27,363,000 after buying an additional 309,514 shares during the period. Elliott Investment Management L.P. raised its stake in shares of CorMedix by 85.1% during the fourth quarter. Elliott Investment Management L.P. now owns 2,870,632 shares of the company’s stock valued at $23,252,000 after acquiring an additional 1,320,109 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of CorMedix by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 1,392,820 shares of the company’s stock worth $11,284,000 after purchasing an additional 108,356 shares during the period. State Street Corp grew its stake in shares of CorMedix by 0.8% in the third quarter. State Street Corp now owns 1,225,756 shares of the company’s stock worth $9,904,000 after purchasing an additional 10,204 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in CorMedix by 14.4% in the fourth quarter. Northern Trust Corp now owns 511,565 shares of the company’s stock valued at $4,144,000 after purchasing an additional 64,243 shares during the period. 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.