Truist Financial Boosts CorMedix (NASDAQ:CRMD) Price Target to $17.00

CorMedix (NASDAQ:CRMD) had its price target raised by Truist Financial from $12.00 to $17.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

CRMD has been the topic of a number of other research reports. Rodman & Renshaw initiated coverage on shares of CorMedix in a research report on Monday, August 26th. They issued a “buy” rating and a $13.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $9.00 target price on shares of CorMedix in a report on Thursday, August 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of CorMedix in a report on Thursday, August 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $13.60.

CorMedix Stock Up 4.6 %

Shares of NASDAQ:CRMD opened at $13.04 on Tuesday. The firm has a market cap of $716.67 million, a P/E ratio of -14.02 and a beta of 1.61. CorMedix has a 12-month low of $2.57 and a 12-month high of $13.49. The business has a fifty day simple moving average of $7.94 and a 200 day simple moving average of $5.94.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. The company had revenue of $0.81 million for the quarter, compared to the consensus estimate of $0.75 million. During the same quarter last year, the business earned ($0.25) earnings per share. As a group, equities research analysts expect that CorMedix will post -0.58 EPS for the current year.

Institutional Trading of CorMedix

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. bought a new position in CorMedix during the second quarter worth $44,000. Tidal Investments LLC bought a new position in shares of CorMedix during the 1st quarter worth about $60,000. Price T Rowe Associates Inc. MD boosted its position in shares of CorMedix by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock worth $63,000 after purchasing an additional 2,562 shares in the last quarter. AlphaMark Advisors LLC acquired a new stake in shares of CorMedix in the 3rd quarter valued at about $97,000. Finally, The Manufacturers Life Insurance Company increased its position in CorMedix by 13.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock valued at $100,000 after buying an additional 2,700 shares in the last quarter. Institutional investors own 34.18% of the company’s stock.

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.