CorMedix (NASDAQ:CRMD) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of CorMedix (NASDAQ:CRMD) from a hold rating to a strong sell rating in a research report report published on Tuesday,Zacks.com reports.

CRMD has been the topic of several other research reports. Weiss Ratings restated a “hold (c)” rating on shares of CorMedix in a research report on Wednesday, January 21st. Truist Financial set a $16.00 target price on shares of CorMedix in a research note on Thursday, January 8th. D. Boral Capital reissued a “buy” rating and set a $14.00 price target on shares of CorMedix in a report on Wednesday. HC Wainwright cut their price objective on shares of CorMedix from $18.00 to $13.00 and set a “buy” rating for the company in a report on Friday, January 23rd. Finally, Needham & Company LLC decreased their price objective on shares of CorMedix from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.86.

CorMedix Price Performance

Shares of CRMD opened at $7.36 on Tuesday. The business’s 50-day moving average is $9.54 and its two-hundred day moving average is $10.88. The company has a market capitalization of $579.89 million, a P/E ratio of 3.57 and a beta of 1.39. CorMedix has a fifty-two week low of $5.60 and a fifty-two week high of $17.43. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.73 and a current ratio of 1.94.

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

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

Insider Buying and Selling at CorMedix

In related news, Director Steven W. Lefkowitz sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $11.88, for a total value of $475,200.00. Following the transaction, the director directly owned 80,498 shares of the company’s stock, valued at approximately $956,316.24. This trade represents a 33.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph Todisco sold 30,000 shares of CorMedix stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $12.00, for a total value of $360,000.00. Following the completion of the sale, the chief executive officer owned 509,496 shares in the company, valued at approximately $6,113,952. The trade was a 5.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 90,000 shares of company stock valued at $1,095,200 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On CorMedix

Hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. purchased a new stake in shares of CorMedix during the fourth quarter worth approximately $25,000. Comerica Bank lifted its holdings in CorMedix by 454.6% in the 3rd quarter. Comerica Bank now owns 2,690 shares of the company’s stock valued at $31,000 after purchasing an additional 2,205 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in CorMedix during the 2nd quarter worth $42,000. Caitong International Asset Management Co. Ltd grew its holdings 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 worth $51,000 after buying an additional 3,813 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of CorMedix in the third quarter valued at about $54,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.

Key CorMedix News

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

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.