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

D. Boral Capital assumed coverage on shares of CorMedix (NASDAQ:CRMD) in a report issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. D. Boral Capital’s target price would suggest a potential upside of 34.05% from the company’s current price.

Several other research firms have also recently commented on CRMD. Truist Financial boosted their price target on shares of CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. StockNews.com upgraded shares of CorMedix to a “sell” rating in a report on Friday, November 8th. 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 report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price target on shares of CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.67.

CorMedix Stock Performance

Shares of CRMD stock opened at $11.19 on Monday. The stock has a market capitalization of $678.98 million, a P/E ratio of -13.81 and a beta of 1.56. The company has a 50 day moving average price of $9.62 and a 200 day moving average price of $7.74. CorMedix has a fifty-two week low of $2.89 and a fifty-two week high of $13.85.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. The business had revenue of $11.46 million during the quarter, compared to analyst estimates of $11.00 million. During the same quarter last year, the firm posted ($0.17) EPS. On average, research analysts forecast that CorMedix will post -0.46 EPS for the current fiscal year.

Insider Activity

In related news, EVP Elizabeth Hurlburt sold 140,027 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $11.18, for a total value of $1,565,501.86. Following the completion of the sale, the executive vice president now owns 45,397 shares in the company, valued at $507,538.46. This represents a 75.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.20% of the company’s stock.

Institutional Trading of CorMedix

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its position in CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after purchasing an additional 1,625 shares during the last quarter. Principal Financial Group Inc. purchased a new position in CorMedix during the 2nd quarter worth $44,000. AlphaMark Advisors LLC purchased a new position in CorMedix during the 3rd quarter worth $97,000. BNP Paribas Financial Markets raised its position 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 last quarter. Finally, The Manufacturers Life Insurance Company raised its position in CorMedix by 13.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock worth $100,000 after buying an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 34.18% of the company’s stock.

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.