CorMedix Inc. (NYSEAMERICAN:CRMD) was the recipient of a significant increase in short interest in September. As of September 14th, there was short interest totalling 8,141,027 shares, an increase of 0.8% from the August 31st total of 8,077,672 shares. Based on an average trading volume of 1,980,669 shares, the days-to-cover ratio is presently 4.1 days. Currently, 8.7% of the company’s stock are short sold.
Several analysts recently weighed in on the stock. Zacks Investment Research raised shares of CorMedix from a “hold” rating to a “buy” rating and set a $0.25 target price on the stock in a report on Thursday, June 28th. HC Wainwright set a $3.00 target price on shares of CorMedix and gave the company a “buy” rating in a report on Thursday, July 26th.
Shares of NYSEAMERICAN:CRMD opened at $0.72 on Thursday. CorMedix has a fifty-two week low of $0.17 and a fifty-two week high of $0.83.
CorMedix (NYSEAMERICAN:CRMD) last issued its earnings results on Tuesday, August 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). The firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.10 million. CorMedix had a negative net margin of 16,300.49% and a negative return on equity of 318.95%.
CorMedix, Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States and internationally. Its primary focus is on the development of its lead product candidate, Neutrolin, an anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as dialysis, critical/intensive care, and oncology.
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