CorMedix’s (CRMD) Buy Rating Reaffirmed at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of CorMedix (NASDAQ:CRMD) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $14.00 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of CorMedix in a report on Wednesday, October 8th. Zacks Research raised shares of CorMedix from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Needham & Company LLC dropped their price objective on shares of CorMedix from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. D Boral Capital upgraded CorMedix from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Wall Street Zen downgraded CorMedix from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $18.00.

CorMedix Trading Down 32.8%

CRMD stock opened at $7.51 on Thursday. The business has a fifty day moving average price of $11.03 and a 200 day moving average price of $11.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.94 and a quick ratio of 1.73. CorMedix has a fifty-two week low of $5.60 and a fifty-two week high of $17.43. The stock has a market capitalization of $591.71 million, a price-to-earnings ratio of 3.65 and a beta of 1.36.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.78. CorMedix had a return on equity of 51.77% and a net margin of 75.83%.The company had revenue of $104.28 million for the quarter, compared to analyst estimates of $65.63 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The business’s revenue was up 810.2% on a year-over-year basis. Analysts expect that CorMedix will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling at CorMedix

In other news, Director Steven W. Lefkowitz sold 40,000 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $11.88, for a total value of $475,200.00. Following the transaction, the director owned 80,498 shares of the company’s stock, valued at $956,316.24. This represents a 33.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alan W. Dunton sold 20,000 shares of the firm’s stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $13.00, for a total value of $260,000.00. Following the completion of the transaction, the director owned 40,250 shares in the company, valued at $523,250. This represents a 33.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 90,000 shares of company stock worth $1,095,200. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CorMedix

Several institutional investors have recently modified their holdings of CRMD. Wealth Enhancement Advisory Services LLC increased its stake in shares of CorMedix by 6.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,540 shares of the company’s stock valued at $310,000 after acquiring an additional 1,707 shares during the last quarter. Gryphon Financial Partners LLC bought a new position in shares of CorMedix during the fourth quarter worth $300,000. JPMorgan Chase & Co. grew its holdings in shares of CorMedix by 176.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 97,228 shares of the company’s stock valued at $1,131,000 after buying an additional 62,085 shares during the period. Allworth Financial LP increased its position in shares of CorMedix by 694.9% in the 3rd quarter. Allworth Financial LP now owns 60,939 shares of the company’s stock valued at $709,000 after buying an additional 53,273 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of CorMedix in the 3rd quarter valued at $576,000. 34.18% of the stock is currently owned by institutional investors and hedge funds.

About CorMedix

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.