CorMedix (NASDAQ:CRMD) Price Target Cut to $12.00 by Analysts at Truist Financial

CorMedix (NASDAQ:CRMD) had its target price cut by investment analysts at Truist Financial from $14.00 to $12.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 155.32% from the company’s previous close.

A number of other equities analysts also recently commented on CRMD. JMP Securities restated a “market outperform” rating and set a $19.00 target price on shares of CorMedix in a report on Tuesday, April 9th. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of CorMedix in a report on Wednesday, June 19th.

CorMedix Trading Down 1.5 %

CRMD stock traded down $0.07 during midday trading on Thursday, hitting $4.70. The company had a trading volume of 70,585 shares, compared to its average volume of 526,992. CorMedix has a 52 week low of $2.57 and a 52 week high of $7.00. The stock’s 50 day moving average price is $4.76 and its 200 day moving average price is $4.33. The stock has a market cap of $258.31 million, a price-to-earnings ratio of -5.05 and a beta of 1.60.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.02. Analysts predict that CorMedix will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On CorMedix

A number of institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its position in shares of CorMedix by 325.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,981 shares of the company’s stock valued at $53,000 after buying an additional 10,695 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of CorMedix during the first quarter valued at $60,000. Price T Rowe Associates Inc. MD boosted its position in shares of CorMedix by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock valued at $63,000 after buying an additional 2,562 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new stake in shares of CorMedix during the fourth quarter valued at $90,000. Finally, MJP Associates Inc. ADV purchased a new stake in shares of CorMedix during the fourth quarter valued at $94,000. 34.18% of the stock is owned by hedge funds and other institutional investors.

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.