KORU Medical Systems (NASDAQ:KRMD) Price Target Raised to $4.00 at Canaccord Genuity Group

KORU Medical Systems (NASDAQ:KRMD) had its price objective increased by investment analysts at Canaccord Genuity Group from $3.00 to $4.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 28.62% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. B. Riley started coverage on shares of KORU Medical Systems in a research report on Thursday, July 25th. They set a “buy” rating and a $4.00 price target for the company. Piper Sandler boosted their price target on KORU Medical Systems from $3.00 to $3.50 and gave the stock an “overweight” rating in a research note on Thursday.

KORU Medical Systems Stock Down 2.8 %

KRMD stock traded down $0.09 on Thursday, reaching $3.11. 34,443 shares of the company traded hands, compared to its average volume of 114,464. KORU Medical Systems has a one year low of $1.98 and a one year high of $3.40. The company has a market cap of $142.59 million, a P/E ratio of -12.56 and a beta of 0.41. The firm has a fifty day simple moving average of $2.64 and a 200-day simple moving average of $2.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.77 and a quick ratio of 3.27.

Institutional Investors Weigh In On KORU Medical Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of KORU Medical Systems by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,961,764 shares of the company’s stock worth $4,630,000 after acquiring an additional 51,890 shares during the period. Archon Capital Management LLC boosted its position in KORU Medical Systems by 6.2% in the first quarter. Archon Capital Management LLC now owns 3,951,393 shares of the company’s stock worth $9,325,000 after purchasing an additional 230,517 shares during the last quarter. First Light Asset Management LLC grew its stake in shares of KORU Medical Systems by 1.1% during the 1st quarter. First Light Asset Management LLC now owns 5,220,990 shares of the company’s stock valued at $12,322,000 after purchasing an additional 57,253 shares during the period. Virtu Financial LLC purchased a new stake in shares of KORU Medical Systems during the 1st quarter valued at about $63,000. Finally, Lakewood Asset Management LLC lifted its stake in shares of KORU Medical Systems by 13.9% in the 2nd quarter. Lakewood Asset Management LLC now owns 68,225 shares of the company’s stock worth $181,000 after purchasing an additional 8,300 shares during the period. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

KORU Medical Systems Company Profile

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria.