CorMedix Inc. (NASDAQ:CRMD – Get Free Report)’s stock price traded up 3.3% on Wednesday after Truist Financial raised their price target on the stock from $12.00 to $17.00. Truist Financial currently has a buy rating on the stock. CorMedix traded as high as $12.45 and last traded at $12.44. 405,086 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 641,758 shares. The stock had previously closed at $12.04.
CRMD has been the topic of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of CorMedix in a report on Thursday, August 15th. Rodman & Renshaw started coverage on shares of CorMedix in a report on Monday, August 26th. They set a “buy” rating and a $13.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $9.00 price target on shares of CorMedix in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $13.60.
Get Our Latest Analysis on CorMedix
Institutional Inflows and Outflows
CorMedix Stock Up 3.2 %
The company has a market capitalization of $683.14 million, a P/E ratio of -12.90 and a beta of 1.61. The company’s 50-day simple moving average is $7.47 and its 200 day simple moving average is $5.79.
CorMedix (NASDAQ:CRMD – Get Free Report) last posted its earnings results on Wednesday, August 14th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.01. The business had revenue of $0.81 million during the quarter, compared to the consensus estimate of $0.75 million. During the same period in the prior year, the firm earned ($0.25) earnings per share. As a group, equities research analysts forecast that CorMedix Inc. will post -0.58 earnings per share for the current year.
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.
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