CorMedix (NASDAQ:CRMD – Get Free Report)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $10.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 130.95% from the company’s current price.
CRMD has been the subject of several other reports. Royal Bank of Canada lowered their price objective on CorMedix from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Wednesday, March 13th. JMP Securities reaffirmed a “market outperform” rating and set a $19.00 target price on shares of CorMedix in a report on Tuesday, April 9th.
Check Out Our Latest Report on CorMedix
CorMedix Stock Down 3.6 %
CorMedix (NASDAQ:CRMD – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. Sell-side analysts expect that CorMedix will post -0.85 earnings per share for the current fiscal year.
Hedge Funds Weigh In On CorMedix
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRMD. Tidal Investments LLC acquired a new stake in CorMedix in the first quarter worth approximately $60,000. Price T Rowe Associates Inc. MD increased its position in CorMedix by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock worth $63,000 after buying an additional 2,562 shares during the last quarter. Vanguard Group Inc. increased its position in CorMedix by 3.6% during the first quarter. Vanguard Group Inc. now owns 2,928,186 shares of the company’s stock worth $12,416,000 after buying an additional 102,851 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in CorMedix by 325.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,981 shares of the company’s stock valued at $53,000 after acquiring an additional 10,695 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in CorMedix by 3.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 138,008 shares of the company’s stock valued at $519,000 after acquiring an additional 4,195 shares during the period. 34.18% of the stock is 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.
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