CorMedix Inc (NASDAQ:CRMD) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of CorMedix Inc (NASDAQ:CRMD) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $15.00.

A number of equities analysts recently issued reports on the stock. Leerink Partners boosted their target price on shares of CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Zacks Research raised shares of CorMedix from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $14.00 target price (up from $13.00) on shares of CorMedix in a research report on Tuesday, April 28th. Citizens Jmp reaffirmed a “market outperform” rating and set a $19.00 target price on shares of CorMedix in a research report on Tuesday, April 28th. Finally, Weiss Ratings raised shares of CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 14th.

CorMedix Price Performance

Shares of CRMD opened at $8.39 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 2.97. The firm has a market cap of $658.20 million, a PE ratio of 3.94 and a beta of 1.46. CorMedix has a twelve month low of $6.13 and a twelve month high of $15.65. The firm’s 50 day moving average price is $8.04 and its 200 day moving average price is $8.22.

CorMedix (NASDAQ:CRMD) last posted its earnings results on Thursday, May 14th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.08. CorMedix had a return on equity of 45.57% and a net margin of 45.25%.The company had revenue of $127.43 million for the quarter, compared to analyst estimates of $104.96 million. During the same period last year, the company earned $0.30 earnings per share. The business’s revenue was up 226.1% compared to the same quarter last year. As a group, research analysts expect that CorMedix will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On CorMedix

A number of institutional investors and hedge funds have recently bought and sold shares of CRMD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 worth $222,000 after acquiring an additional 1,631 shares during the period. Legal & General Group Plc increased its holdings in CorMedix by 17.1% in the 2nd quarter. Legal & General Group Plc now owns 62,620 shares of the company’s stock valued at $771,000 after buying an additional 9,155 shares during the period. Rhumbline Advisers increased its holdings in CorMedix by 13.9% in the 2nd quarter. Rhumbline Advisers now owns 92,905 shares of the company’s stock valued at $1,145,000 after buying an additional 11,340 shares during the period. Russell Investments Group Ltd. increased its holdings in CorMedix by 22.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock valued at $81,000 after buying an additional 1,190 shares during the period. Finally, Quantbot Technologies LP bought a new stake in CorMedix in the 2nd quarter valued at $199,000. Institutional investors own 34.18% of the company’s stock.

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.