CorMedix (NASDAQ:CRMD) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

CorMedix (NASDAQ:CRMD) released its quarterly earnings data on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05, Briefing.com reports. The company had revenue of $30.00 million during the quarter, compared to analyst estimates of $27.46 million. The business’s revenue was up 29900.0% compared to the same quarter last year.

CorMedix Price Performance

Shares of CRMD stock traded down $3.43 during midday trading on Tuesday, reaching $7.34. 18,742,680 shares of the company traded hands, compared to its average volume of 1,354,040. The firm’s 50 day simple moving average is $10.84 and its two-hundred day simple moving average is $9.91. The firm has a market cap of $445.37 million, a PE ratio of -9.06 and a beta of 1.53. CorMedix has a 1-year low of $3.61 and a 1-year high of $13.85.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CRMD shares. D. Boral Capital reissued a “buy” rating and issued a $15.00 target price on shares of CorMedix in a research report on Tuesday. Leerink Partnrs raised shares of CorMedix to a “strong-buy” rating in a research report on Friday, March 7th. Royal Bank of Canada boosted their target price on CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Leerink Partners started coverage on shares of CorMedix in a research report on Friday, March 7th. They set an “outperform” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

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.