CorMedix’s (CRMD) “Buy” Rating Reiterated at Needham & Company LLC

CorMedix (NASDAQ:CRMD)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They presently have a $12.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 75.44% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. Leerink Partners initiated coverage on shares of CorMedix in a research note on Friday, March 7th. They set an “outperform” rating and a $18.00 price target on the stock. Leerink Partnrs raised CorMedix to a “strong-buy” rating in a research report on Friday, March 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price target on shares of CorMedix in a research note on Wednesday, March 26th. D. Boral Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of CorMedix in a report on Tuesday. Finally, StockNews.com raised shares of CorMedix from a “sell” rating to a “hold” rating in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $14.50.

CorMedix Trading Down 2.3 %

Shares of CRMD opened at $6.84 on Wednesday. CorMedix has a 12 month low of $3.61 and a 12 month high of $13.85. The stock has a fifty day moving average price of $9.28 and a 200-day moving average price of $9.84. The firm has a market cap of $445.84 million, a PE ratio of -8.44 and a beta of 1.57.

CorMedix (NASDAQ:CRMD) last issued 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 analyst estimates of $27.46 million. CorMedix’s revenue was up 29900.0% compared to the same quarter last year. As a group, research analysts forecast that CorMedix will post -0.32 EPS for the current year.

Institutional Investors Weigh In On CorMedix

A number of institutional investors have recently modified their holdings of the business. FMR LLC increased its holdings in CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after acquiring an additional 1,625 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of CorMedix during the 4th quarter worth about $81,000. Captrust Financial Advisors acquired a new stake in CorMedix in the 4th quarter worth about $90,000. Aigen Investment Management LP purchased a new stake in CorMedix during the 4th quarter worth approximately $94,000. Finally, XTX Topco Ltd acquired a new position in shares of CorMedix during the fourth quarter valued at approximately $95,000. 34.18% of the stock is currently owned by institutional investors and hedge funds.

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.