CorMedix (NASDAQ:CRMD) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

CorMedix (NASDAQ:CRMD) released its quarterly earnings data on Thursday. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.08, Zacks reports. CorMedix had a net margin of 52.31% and a return on equity of 52.30%. The business had revenue of $127.43 million during the quarter, compared to analysts’ expectations of $104.96 million. During the same period in the previous year, the company earned $0.30 EPS. The company’s revenue for the quarter was up 226.1% on a year-over-year basis.

Here are the key takeaways from CorMedix’s conference call:

• CorMedix reported Q1 2026 net revenue of $127.4 million and adjusted EBITDA of $70 million, both reflecting strong execution and ahead of expectations. Management said the quarter benefited from durable DefenCath demand and the full-quarter contribution from the Melinta portfolio.
• The company raised full-year guidance, increasing net revenue to $325 million-$345 million and adjusted EBITDA to $115 million-$135 million. It also lifted DefenCath guidance to $175 million-$195 million, citing continued utilization strength.
• Management expects DefenCath revenue variability in the second half of 2026 as TDAPA reimbursement expires and the product moves to the post-TDAPA add-on phase. The company expects a higher net selling price in 2027 and said its near-term priority is to maintain or grow patient utilization.
• Preliminary top-line results from the ReSPECT phase III study showed REZZAYO met its primary endpoint and was non-inferior to standard antifungal therapy, with a favorable safety profile. CorMedix said the data support pursuing an sNDA submission in the second half of 2026 and a potential commercial launch in 2027.
• The Nutri-Guard TPN study is progressing slowly, with enrollment at only about one-third of the level needed for the interim analysis and completion now trending toward 2028. CorMedix plans to add sites and seek an FDA protocol amendment to broaden eligibility and speed enrollment.

CorMedix Trading Up 8.3%

CRMD traded up $0.63 during midday trading on Thursday, hitting $8.13. The company’s stock had a trading volume of 3,609,281 shares, compared to its average volume of 2,001,647. The company has a current ratio of 2.11, a quick ratio of 1.94 and a debt-to-equity ratio of 0.36. The firm has a market cap of $637.33 million, a P/E ratio of 4.05 and a beta of 1.46. The firm has a 50-day moving average price of $7.07 and a two-hundred day moving average price of $8.69. CorMedix has a 52-week low of $6.13 and a 52-week high of $17.43.

Institutional Trading of CorMedix

Several large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP boosted its holdings in CorMedix by 34.6% in the 3rd quarter. Marshall Wace LLP now owns 3,473,494 shares of the company’s stock worth $40,397,000 after acquiring an additional 893,518 shares during the period. Deerfield Management Company L.P. purchased a new position in shares of CorMedix during the 3rd quarter valued at approximately $38,656,000. State Street Corp boosted its stake in shares of CorMedix by 4.6% during the 4th quarter. State Street Corp now owns 1,920,861 shares of the company’s stock valued at $22,340,000 after buying an additional 85,240 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of CorMedix by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 1,912,233 shares of the company’s stock worth $22,243,000 after purchasing an additional 102,461 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in shares of CorMedix by 68.4% during the third quarter. Alyeska Investment Group L.P. now owns 1,262,979 shares of the company’s stock worth $14,688,000 after purchasing an additional 512,979 shares during the last quarter. 34.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRMD. Leerink Partners boosted their price objective on CorMedix from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Citizens Jmp reissued a “market outperform” rating and set a $19.00 price target on shares of CorMedix in a report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of CorMedix in a research report on Wednesday, January 21st. Zacks Research cut CorMedix from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 10th. Finally, Needham & Company LLC raised their price objective on shares of CorMedix from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.00.

CorMedix announced that its board has approved a stock repurchase plan on Monday, February 2nd that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.