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

CorMedix (NASDAQ:CRMD)‘s stock had its “buy” rating reiterated by analysts at D. Boral Capital in a report issued on Tuesday,Benzinga reports. They currently have a $15.00 price target on the stock. D. Boral Capital’s price target would suggest a potential upside of 109.50% from the company’s current price.

A number of other brokerages also recently issued reports on CRMD. Leerink Partners started coverage on CorMedix in a research note on Friday, March 7th. They set an “outperform” rating and a $18.00 target price for the company. Royal Bank of Canada increased their price objective on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, Leerink Partnrs upgraded shares of CorMedix to a “strong-buy” rating in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.14.

CorMedix Price Performance

NASDAQ:CRMD opened at $7.16 on Tuesday. The firm has a market cap of $434.45 million, a price-to-earnings ratio of -8.84 and a beta of 1.53. CorMedix has a 1-year low of $3.61 and a 1-year high of $13.85. The firm’s fifty day moving average price is $10.66 and its 200 day moving average price is $9.90.

CorMedix (NASDAQ:CRMD) last issued its earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $30.00 million during the quarter, compared to analysts’ expectations of $27.46 million. The firm’s revenue for the quarter was up 29900.0% compared to the same quarter last year. As a group, analysts expect that CorMedix will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of CorMedix

Institutional investors have recently bought and sold shares of the company. 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 valued at $37,000 after buying an additional 1,625 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in CorMedix during the 4th quarter valued at about $81,000. Captrust Financial Advisors acquired a new position in CorMedix during the fourth quarter worth about $90,000. Aigen Investment Management LP purchased a new stake in shares of CorMedix in the fourth quarter valued at about $94,000. Finally, XTX Topco Ltd acquired a new stake in shares of CorMedix in the fourth quarter valued at approximately $95,000. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

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.