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

Shares of CorMedix Inc. (NASDAQ:CRMD) have earned an average recommendation of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.14.

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of CorMedix from a “sell” rating to a “hold” rating in a research note on Tuesday, April 1st. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price target on shares of CorMedix in a research report on Wednesday, March 26th. Leerink Partnrs raised CorMedix to a “strong-buy” rating in a research report on Friday, March 7th. Leerink Partners began coverage on CorMedix in a report on Friday, March 7th. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, D. Boral Capital restated a “buy” rating and set a $15.00 target price on shares of CorMedix in a report on Tuesday, March 25th.

CorMedix Stock Performance

NASDAQ CRMD opened at $5.86 on Tuesday. CorMedix has a 52 week low of $3.61 and a 52 week high of $13.85. The stock’s 50 day moving average price is $9.81 and its two-hundred day moving average price is $9.88. The stock has a market capitalization of $381.97 million, a price-to-earnings ratio of -7.23 and a beta of 1.57.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The business had revenue of $30.00 million during the quarter, compared to the consensus estimate of $27.46 million. CorMedix’s revenue was up 29900.0% compared to the same quarter last year. On average, equities research analysts forecast that CorMedix will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FMR LLC boosted its position in CorMedix by 54.3% during the third 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 acquired a new stake in shares of CorMedix during the 4th quarter worth about $81,000. Captrust Financial Advisors bought a new stake in shares of CorMedix during the 4th quarter worth about $90,000. Aigen Investment Management LP bought a new stake in shares of CorMedix during the 4th quarter worth about $94,000. Finally, XTX Topco Ltd acquired a new position in CorMedix in the 4th quarter valued at about $95,000. 34.18% of the stock is owned by institutional investors and hedge funds.

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.