CorMedix (NASDAQ:CRMD) Stock Rating Upgraded by StockNews.com

CorMedix (NASDAQ:CRMD) was upgraded by research analysts at StockNews.com to a “sell” rating in a note issued to investors on Saturday.

Other equities analysts have also recently issued research reports about the company. Rodman & Renshaw assumed coverage on CorMedix in a report on Monday, August 26th. They issued a “buy” rating and a $13.00 price target on the stock. Needham & Company LLC raised their target price on shares of CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $9.00 price target on shares of CorMedix in a research note on Thursday, August 15th. Finally, Truist Financial raised their price objective on shares of CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

CorMedix Trading Down 0.7 %

Shares of CRMD stock opened at $9.99 on Friday. CorMedix has a 1 year low of $2.57 and a 1 year high of $13.85. The firm’s 50 day moving average is $8.55 and its 200-day moving average is $6.15. The firm has a market capitalization of $606.19 million, a price-to-earnings ratio of -12.33 and a beta of 1.58.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.05. The firm had revenue of $11.46 million for the quarter, compared to analyst estimates of $11.00 million. During the same period in the prior year, the company posted ($0.17) EPS. On average, equities research analysts forecast that CorMedix will post -0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in CorMedix in the second quarter worth $44,000. Tidal Investments LLC acquired a new stake in CorMedix during the 1st quarter worth $60,000. Price T Rowe Associates Inc. MD grew its stake in CorMedix by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock valued at $63,000 after acquiring an additional 2,562 shares during the period. AlphaMark Advisors LLC bought a new stake in shares of CorMedix in the third quarter worth about $97,000. Finally, Palumbo Wealth Management LLC acquired a new stake in shares of CorMedix during the third quarter worth about $100,000. 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.