CorMedix (NASDAQ:CRMD) Earns Buy Rating from D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of CorMedix (NASDAQ:CRMD) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $15.00 target price on the stock.

Several other research analysts have also commented on CRMD. Royal Bank of Canada lifted their price target on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Leerink Partners initiated coverage on CorMedix in a report on Friday, March 7th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, Leerink Partnrs upgraded CorMedix to a “strong-buy” rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

CorMedix Price Performance

Shares of CRMD opened at $7.34 on Tuesday. The stock has a market capitalization of $445.37 million, a price-to-earnings ratio of -9.06 and a beta of 1.53. CorMedix has a 1 year low of $3.61 and a 1 year high of $13.85. The business’s 50 day simple moving average is $10.76 and its 200-day simple moving average is $9.92.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The business had revenue of $30.00 million during 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. On average, sell-side analysts expect that CorMedix will post -0.32 earnings per share for the current year.

Institutional Trading of CorMedix

Hedge funds and other institutional investors have recently bought and sold shares of the business. Elliott Investment Management L.P. increased its position 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 worth $23,252,000 after acquiring an additional 1,320,109 shares during the period. Palisades Investment Partners LLC bought a new position in CorMedix in the fourth quarter worth approximately $2,949,000. J. Goldman & Co LP increased its holdings in CorMedix by 221.1% during the 4th quarter. J. Goldman & Co LP now owns 457,320 shares of the company’s stock worth $3,704,000 after purchasing an additional 314,880 shares during the period. Vanguard Group Inc. raised 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 valued at $27,363,000 after purchasing an additional 309,514 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in CorMedix by 685.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 194,108 shares of the company’s stock valued at $1,568,000 after purchasing an additional 169,397 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.