CorMedix (NASDAQ:CRMD) Upgraded at StockNews.com

StockNews.com upgraded shares of CorMedix (NASDAQ:CRMDFree Report) to a sell rating in a report published on Saturday.

Several other equities analysts have also issued reports on the stock. Needham & Company LLC lifted their price objective on shares of CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Truist Financial upped their price target on CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada restated an “outperform” rating and set a $9.00 target price on shares of CorMedix in a research note on Thursday, August 15th. Finally, Rodman & Renshaw began coverage on shares of CorMedix in a report on Monday, August 26th. They set a “buy” rating and a $13.00 price objective on the stock. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

Get Our Latest Report on CorMedix

CorMedix Stock Performance

CRMD opened at $9.59 on Friday. CorMedix has a one year low of $2.57 and a one year high of $13.85. The stock has a market cap of $581.89 million, a price-to-earnings ratio of -11.84 and a beta of 1.58. The stock’s 50 day moving average price is $8.62 and its 200-day moving average price is $6.18.

CorMedix (NASDAQ:CRMDGet Free Report) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $11.00 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. As a group, analysts predict that CorMedix will post -0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CorMedix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRMD. Sigma Planning Corp boosted its holdings in CorMedix by 23.8% during the third quarter. Sigma Planning Corp now owns 39,947 shares of the company’s stock worth $323,000 after buying an additional 7,679 shares in the last quarter. Palumbo Wealth Management LLC purchased a new stake in CorMedix during the 3rd quarter valued at about $100,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of CorMedix by 10.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 52,184 shares of the company’s stock worth $422,000 after acquiring an additional 4,935 shares during the period. AlphaMark Advisors LLC acquired a new position in CorMedix in the 3rd quarter valued at about $97,000. Finally, Creative Planning acquired a new stake in CorMedix during the third quarter worth $129,000. 34.18% of the stock is owned by institutional investors and hedge funds.

About CorMedix

(Get Free Report)

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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Analyst Recommendations for CorMedix (NASDAQ:CRMD)

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