CorMedix (NASDAQ:CRMD) Rating Reiterated by JMP Securities

CorMedix (NASDAQ:CRMDGet Free Report)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a research note issued on Wednesday, Benzinga reports. They currently have a $19.00 price objective on the stock. JMP Securities’ price objective suggests a potential upside of 400.00% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC dropped their price objective on shares of CorMedix from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, August 8th. Royal Bank of Canada began coverage on shares of CorMedix in a report on Thursday, August 10th. They set an “outperform” rating and a $6.00 price objective on the stock. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, CorMedix presently has an average rating of “Moderate Buy” and an average price target of $14.25.

Read Our Latest Analysis on CorMedix

CorMedix Trading Up 14.1 %

Shares of NASDAQ:CRMD opened at $3.80 on Wednesday. The firm has a 50 day simple moving average of $3.47 and a 200-day simple moving average of $4.16. CorMedix has a twelve month low of $2.57 and a twelve month high of $6.09. The company has a market capitalization of $208.26 million, a PE ratio of -4.15 and a beta of 1.98.

Insider Buying and Selling at CorMedix

In related news, CEO Joseph Todisco purchased 10,000 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was acquired at an average price of $3.71 per share, with a total value of $37,100.00. Following the completion of the transaction, the chief executive officer now owns 219,726 shares of the company’s stock, valued at $815,183.46. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CorMedix

Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in CorMedix in the first quarter valued at $38,000. Baystate Wealth Management LLC purchased a new position in CorMedix in the 2nd quarter worth about $40,000. Burney Co. acquired a new stake in CorMedix during the 2nd quarter worth about $40,000. Renaissance Technologies LLC acquired a new stake in CorMedix during the 1st quarter worth about $56,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of CorMedix during the 3rd quarter valued at about $40,000. 35.03% of the stock is currently owned by institutional investors.

CorMedix Company Profile

(Get Free Report)

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 and internationally. Its lead product candidate is DefenCath and Neutrolin, a novel anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as hemodialysis, total parenteral nutrition, and oncology.

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