D. Boral Capital Reaffirms Buy Rating for CorMedix (NASDAQ:CRMD)

CorMedix (NASDAQ:CRMD)‘s stock had its “buy” rating restated by equities researchers at D. Boral Capital in a research report issued on Wednesday,Benzinga reports. They presently have a $14.00 price objective on the stock. D. Boral Capital’s price target indicates a potential upside of 90.22% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. Needham & Company LLC reduced their target price on CorMedix from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Zacks Research cut CorMedix from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Royal Bank Of Canada set a $13.00 price objective on CorMedix and gave the stock an “outperform” rating in a report on Wednesday, January 21st. HC Wainwright lowered their target price on CorMedix from $18.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Finally, Wall Street Zen cut shares of CorMedix from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CorMedix currently has an average rating of “Moderate Buy” and an average price target of $15.86.

CorMedix Trading Down 0.9%

Shares of CRMD opened at $7.36 on Wednesday. The firm has a market cap of $579.89 million, a P/E ratio of 3.57 and a beta of 1.39. 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 1 year low of $5.60 and a 1 year high of $17.43. The company has a 50 day simple moving average of $9.54 and a two-hundred day simple moving average of $10.88.

CorMedix (NASDAQ:CRMD) last posted its earnings results on Wednesday, November 12th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.78. The company had revenue of $104.28 million during the quarter, compared to analysts’ expectations of $65.63 million. CorMedix had a net margin of 75.83% and a return on equity of 51.77%. CorMedix’s quarterly revenue was up 810.2% on a year-over-year basis. During the same period last year, the company posted ($0.05) earnings per share. On average, equities analysts expect that CorMedix will post -0.32 earnings per share for the current fiscal year.

CorMedix announced that its board has initiated a stock repurchase plan on Monday, February 2nd that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to purchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at CorMedix

In related news, 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 sale, the director directly owned 40,250 shares in the company, valued at $523,250. This trade represents a 33.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Todisco sold 30,000 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $12.00, for a total transaction of $360,000.00. Following the transaction, the chief executive officer owned 509,496 shares in the company, valued at $6,113,952. This trade represents a 5.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 90,000 shares of company stock worth $1,095,200. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CorMedix

Institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. purchased a new position in shares of CorMedix during the 4th quarter worth about $25,000. Comerica Bank raised its position in CorMedix by 454.6% in the 3rd quarter. Comerica Bank now owns 2,690 shares of the company’s stock worth $31,000 after purchasing an additional 2,205 shares during the period. Canada Pension Plan Investment Board bought a new stake in CorMedix in the second quarter worth about $42,000. Caitong International Asset Management Co. Ltd boosted its position in shares of CorMedix by 666.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 4,385 shares of the company’s stock valued at $51,000 after buying an additional 3,813 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in shares of CorMedix during the third quarter valued at approximately $54,000. Institutional investors own 34.18% of the company’s stock.

Trending Headlines about CorMedix

Here are the key news stories impacting CorMedix this week:

• Positive Sentiment: Board approved a multi-year $75 million stock repurchase program through Dec 31, 2027 — signals management confidence and can support the share price by reducing float. CorMedix Inc. Board Approves Multi-Year $75M Stock Buyback
• Positive Sentiment: D. Boral Capital reaffirmed a “buy” rating with a $14 price target (~90% upside from current levels) — bullish analyst backing that could attract investors. Buy Rating Reaffirmed
• Positive Sentiment: Analysts and press note DefenCath sales (outpatient dialysis) plus contributions from acquired Melinta products as key revenue drivers heading into Q4 — supports the revenue beat narrative and helps justify valuation. CorMedix Banks on DefenCath Sales
• Neutral Sentiment: Company announced management will present at investor conferences in March — increases investor access and could provide more detail on commercialization and ops, but by itself is informational. CorMedix to Participate in Upcoming Investor Conferences
• Neutral Sentiment: Company investor/analyst day materials were posted (slideshow) — useful for longer-term visibility into strategy and pipeline but impact depends on any new disclosures. Analyst/Investor Day – Slideshow
• Neutral Sentiment: Recent short-interest reports show a reported “large increase” but the published figures are 0 shares/NaN and days-to-cover 0.0 — appears to be a data/reporting anomaly, so treat short-interest signals as unreliable until clarified.
• Negative Sentiment: Zacks Research downgraded CRMD from “hold” to “strong sell” — a negative analyst action that can pressure sentiment and trigger selling by momentum or quant funds. Zacks Downgrade

CorMedix Company Profile

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.