CorMedix (NASDAQ:CRMD) Receives “Buy” Rating from D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of CorMedix (NASDAQ:CRMD) in a research note released on Monday morning,Benzinga reports. D. Boral Capital currently has a $14.00 price objective on the stock.

Several other research firms also recently weighed in on CRMD. Needham & Company LLC decreased their price target on shares of CorMedix from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Zacks Research downgraded shares of CorMedix from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 10th. Royal Bank Of Canada set a $13.00 price objective on shares of CorMedix and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Truist Financial set a $16.00 price objective on shares of CorMedix in a research note on Thursday, January 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of CorMedix in a research note on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.14.

CorMedix Stock Up 5.4%

CRMD opened at $7.82 on Monday. The company has a current ratio of 2.11, a quick ratio of 1.94 and a debt-to-equity ratio of 0.36. CorMedix has a 1-year low of $6.13 and a 1-year high of $17.43. The company has a market capitalization of $618.17 million, a PE ratio of 3.91 and a beta of 1.41. The firm’s 50 day simple moving average is $6.96 and its two-hundred day simple moving average is $8.92.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.70). CorMedix had a return on equity of 52.30% and a net margin of 52.31%.The business had revenue of $128.62 million during the quarter, compared to the consensus estimate of $127.02 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. The firm’s revenue was up 312.1% on a year-over-year basis. As a group, equities analysts forecast that CorMedix will post 0.67 EPS for the current year.

CorMedix announced that its Board of Directors has initiated a share buyback program on Monday, February 2nd that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On CorMedix

Several institutional investors have recently bought and sold shares of CRMD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in CorMedix by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,987 shares of the company’s stock valued at $222,000 after acquiring an additional 1,631 shares in the last quarter. Legal & General Group Plc grew its stake in CorMedix by 17.1% during the second quarter. Legal & General Group Plc now owns 62,620 shares of the company’s stock valued at $771,000 after acquiring an additional 9,155 shares in the last quarter. Rhumbline Advisers grew its stake in CorMedix by 13.9% during the second quarter. Rhumbline Advisers now owns 92,905 shares of the company’s stock valued at $1,145,000 after acquiring an additional 11,340 shares in the last quarter. Russell Investments Group Ltd. grew its stake in CorMedix by 22.2% during the second quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock valued at $81,000 after acquiring an additional 1,190 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in CorMedix during the second quarter valued at $199,000. 34.18% of the stock is owned by hedge funds and other institutional investors.

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.