Brokerages Set CorMedix Inc. (NASDAQ:CRMD) PT at $15.67

Shares of CorMedix Inc. (NASDAQ:CRMD) have been given a consensus recommendation of “Buy” by the six analysts that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $15.67.

A number of equities research analysts have issued reports on the company. Royal Bank of Canada upped their target price on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. StockNews.com upgraded CorMedix to a “sell” rating in a report on Friday, November 8th. Truist Financial upped their price target on CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. D. Boral Capital reiterated a “buy” rating and set a $15.00 price target on shares of CorMedix in a report on Wednesday, January 22nd. Finally, Needham & Company LLC upped their price target on CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st.

CorMedix Stock Down 0.5 %

Shares of CorMedix stock opened at $10.00 on Monday. The stock has a market capitalization of $606.80 million, a P/E ratio of -12.35 and a beta of 1.57. The stock has a 50 day moving average price of $10.00 and a two-hundred day moving average price of $8.79. CorMedix has a 12-month low of $3.03 and a 12-month high of $13.85.

Institutional Trading of CorMedix

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of CorMedix by 10.1% during the fourth quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company’s stock worth $27,363,000 after purchasing an additional 309,514 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of CorMedix by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 1,392,820 shares of the company’s stock worth $11,284,000 after purchasing an additional 108,356 shares during the last quarter. State Street Corp grew its holdings in shares of CorMedix by 0.8% during the third quarter. State Street Corp now owns 1,225,756 shares of the company’s stock worth $9,904,000 after purchasing an additional 10,204 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of CorMedix by 40.8% during the fourth quarter. JPMorgan Chase & Co. now owns 273,218 shares of the company’s stock worth $2,213,000 after purchasing an additional 79,110 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in CorMedix by 130.7% in the third quarter. Wellington Management Group LLP now owns 180,948 shares of the company’s stock valued at $1,462,000 after acquiring an additional 102,527 shares during the last quarter. 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.