Craig Hallum Forecasts Strong Price Appreciation for KORU Medical Systems (NASDAQ:KRMD) Stock

KORU Medical Systems (NASDAQ:KRMD) had its target price boosted by equities research analysts at Craig Hallum from $5.00 to $6.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price target points to a potential upside of 44.54% from the stock’s current price.

Other research analysts have also issued research reports about the company. Piper Sandler lifted their price target on KORU Medical Systems from $3.00 to $3.50 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Canaccord Genuity Group raised their price objective on shares of KORU Medical Systems from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Lake Street Capital boosted their target price on shares of KORU Medical Systems from $4.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, KORU Medical Systems presently has an average rating of “Buy” and an average price target of $4.50.

KORU Medical Systems Price Performance

Shares of NASDAQ:KRMD traded up $0.15 during midday trading on Friday, hitting $4.15. The company had a trading volume of 141,452 shares, compared to its average volume of 103,131. The business’s 50-day simple moving average is $3.80 and its 200-day simple moving average is $2.96. The stock has a market cap of $190.27 million, a price-to-earnings ratio of -16.68 and a beta of 0.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.99 and a quick ratio of 2.37. KORU Medical Systems has a twelve month low of $1.98 and a twelve month high of $4.60.

Institutional Trading of KORU Medical Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in shares of KORU Medical Systems during the third quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in KORU Medical Systems during the 2nd quarter worth about $107,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in KORU Medical Systems by 77.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,412 shares of the company’s stock valued at $168,000 after acquiring an additional 26,860 shares during the period. Empire Financial Management Company LLC acquired a new position in KORU Medical Systems in the 3rd quarter valued at about $259,000. Finally, Geode Capital Management LLC grew its position in KORU Medical Systems by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 462,128 shares of the company’s stock valued at $1,262,000 after acquiring an additional 28,323 shares in the last quarter. Hedge funds and other institutional investors own 58.60% of the company’s stock.

About KORU Medical Systems

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.