CorMedix (NASDAQ:CRMD) Coverage Initiated at D. Boral Capital

Stock analysts at D. Boral Capital started coverage on shares of CorMedix (NASDAQ:CRMD) in a report released on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. D. Boral Capital’s price objective would indicate a potential upside of 33.69% from the company’s current price.

A number of other equities analysts have also weighed in on CRMD. Needham & Company LLC boosted their price objective on shares of CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Truist Financial boosted their price target on CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. StockNews.com upgraded CorMedix to a “sell” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada lifted their price objective on CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, CorMedix presently has an average rating of “Moderate Buy” and an average price target of $15.67.

CorMedix Price Performance

CorMedix stock opened at $11.22 on Monday. CorMedix has a fifty-two week low of $2.89 and a fifty-two week high of $13.85. The stock has a fifty day moving average of $9.67 and a two-hundred day moving average of $7.83.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $11.46 million for the quarter, compared to analysts’ expectations of $11.00 million. During the same quarter in the prior year, the business posted ($0.17) EPS. Research analysts predict that CorMedix will post -0.46 earnings per share for the current year.

Insider Activity

In other news, EVP Elizabeth Hurlburt sold 140,027 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $11.18, for a total transaction of $1,565,501.86. Following the completion of the sale, the executive vice president now owns 45,397 shares in the company, valued at approximately $507,538.46. The trade was a 75.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. FMR LLC increased its position in shares of CorMedix by 54.3% in the third quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after acquiring an additional 1,625 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in CorMedix during the 2nd quarter worth $44,000. AlphaMark Advisors LLC acquired a new stake in CorMedix in the 3rd quarter valued at $97,000. BNP Paribas Financial Markets raised its position in CorMedix by 130.3% in the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock valued at $97,000 after purchasing an additional 6,761 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of CorMedix by 13.2% during the second quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock worth $100,000 after purchasing an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 34.18% of the company’s stock.

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.