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

CorMedix (NASDAQ:CRMD)‘s stock had its “buy” rating reiterated by D. Boral Capital in a report released on Wednesday,Benzinga reports. They currently have a $15.00 target price on the stock. D. Boral Capital’s price objective would suggest a potential upside of 20.10% from the company’s previous close.

CRMD has been the topic of a number of other reports. Needham & Company LLC boosted their price target on shares of CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Truist Financial upped their price target on CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada boosted their price objective on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, StockNews.com raised CorMedix to a “sell” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.67.

CorMedix Trading Up 2.6 %

CRMD stock opened at $12.49 on Wednesday. CorMedix has a 12-month low of $2.89 and a 12-month high of $13.85. The business’s 50-day moving average is $9.76 and its 200 day moving average is $8.06. The stock has a market cap of $757.89 million, a price-to-earnings ratio of -15.42 and a beta of 1.56.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $11.46 million during the quarter, compared to analyst estimates of $11.00 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. As a group, equities analysts forecast that CorMedix will post -0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other CorMedix news, EVP Elizabeth Hurlburt sold 140,027 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $11.18, for a total transaction of $1,565,501.86. Following the completion of the transaction, the executive vice president now owns 45,397 shares of the company’s stock, valued at $507,538.46. This trade represents a 75.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.20% of the stock is owned by insiders.

Hedge Funds Weigh In On CorMedix

Several large investors have recently made changes to their positions in CRMD. FMR LLC boosted its holdings in CorMedix by 54.3% during the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after acquiring an additional 1,625 shares during the period. AlphaMark Advisors LLC lifted its position in shares of CorMedix by 16.7% during the fourth quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company’s stock worth $113,000 after purchasing an additional 2,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of CorMedix by 13.2% in the second quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock valued at $100,000 after purchasing an additional 2,700 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of CorMedix by 10.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 52,184 shares of the company’s stock valued at $422,000 after purchasing an additional 4,935 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in CorMedix by 130.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock worth $97,000 after buying an additional 6,761 shares during the period. 34.18% of the stock is currently owned by institutional investors and hedge funds.

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.