CorMedix (NASDAQ:CRMD) Upgraded at StockNews.com

StockNews.com upgraded shares of CorMedix (NASDAQ:CRMD) from a sell rating to a hold rating in a research note released on Tuesday.

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

CorMedix Price Performance

CRMD opened at $6.07 on Tuesday. CorMedix has a 1 year low of $3.61 and a 1 year high of $13.85. The company has a market capitalization of $395.65 million, a price-to-earnings ratio of -7.49 and a beta of 1.53. The firm’s fifty day moving average price is $10.19 and its two-hundred day moving average price is $9.92.

CorMedix (NASDAQ:CRMD) last released 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 firm had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $27.46 million. The business’s revenue was up 29900.0% compared to the same quarter last year. As a group, equities analysts anticipate that CorMedix will post -0.32 EPS for the current year.

Institutional Investors Weigh In On CorMedix

Several large investors have recently added to or reduced their stakes in CRMD. FMR LLC grew its stake in CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after buying an additional 1,625 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of CorMedix in the fourth quarter worth $81,000. Captrust Financial Advisors purchased a new position in shares of CorMedix in the fourth quarter valued at $90,000. Aigen Investment Management LP bought a new stake in shares of CorMedix during the 4th quarter valued at $94,000. Finally, XTX Topco Ltd bought a new stake in shares of CorMedix during the 4th quarter valued at $95,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.

CorMedix Company Profile

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.