CorMedix (NASDAQ:CRMD) Issues Quarterly Earnings Results

CorMedix (NASDAQ:CRMD) posted its quarterly earnings data on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05, Briefing.com reports. The company had revenue of $30.00 million for the quarter, compared to analyst estimates of $27.46 million. The business’s quarterly revenue was up 29900.0% compared to the same quarter last year.

CorMedix Trading Down 31.8 %

NASDAQ:CRMD opened at $7.34 on Wednesday. The stock has a 50 day moving average of $10.76 and a two-hundred day moving average of $9.92. The firm has a market cap of $445.37 million, a P/E ratio of -9.06 and a beta of 1.53. CorMedix has a 12 month low of $3.61 and a 12 month high of $13.85.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CRMD shares. Leerink Partnrs raised CorMedix to a “strong-buy” rating in a report on Friday, March 7th. Leerink Partners initiated coverage on shares of CorMedix in a research note on Friday, March 7th. They set an “outperform” rating and a $18.00 price objective for the company. D. Boral Capital restated a “buy” rating and set a $15.00 target price on shares of CorMedix in a research report on Tuesday. Finally, Royal Bank of Canada increased their price target on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

CorMedix Company Profile

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. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.