CorMedix Inc. (NASDAQ:CRMD) Given Average Recommendation of “Buy” by Brokerages

Shares of CorMedix Inc. (NASDAQ:CRMD) have been given a consensus rating of “Buy” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $15.67.

A number of equities analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. D. Boral Capital reissued a “buy” rating and set a $15.00 target price on shares of CorMedix in a report on Wednesday. Finally, StockNews.com raised shares of CorMedix to a “sell” rating in a report on Friday, November 8th.

Institutional Investors Weigh In On CorMedix

A number of institutional investors have recently modified their holdings of CRMD. FMR LLC raised 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 purchasing an additional 1,625 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of CorMedix in the fourth quarter valued at approximately $81,000. Captrust Financial Advisors acquired a new position in shares of CorMedix during the 4th quarter worth approximately $90,000. Aigen Investment Management LP purchased a new position in shares of CorMedix during the 4th quarter valued at approximately $94,000. Finally, XTX Topco Ltd acquired a new stake in CorMedix in the 4th quarter valued at $95,000. 34.18% of the stock is currently owned by institutional investors and hedge funds.

CorMedix Stock Down 6.1 %

Shares of NASDAQ:CRMD opened at $9.49 on Friday. CorMedix has a 52-week low of $3.03 and a 52-week high of $13.85. The stock has a market cap of $575.82 million, a price-to-earnings ratio of -11.72 and a beta of 1.57. The business has a 50-day moving average price of $10.49 and a 200-day moving average price of $9.44.

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.