CorMedix Inc (NASDAQ:CRMD) Stock Has Average Target Price of $15.00

Shares of CorMedix Inc (NASDAQ:CRMD) have earned a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $14.62.

CRMD has been the subject of a number of analyst reports. Needham & Company LLC decreased their target price on shares of CorMedix from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Monday. Oppenheimer began coverage on shares of CorMedix in a research note on Wednesday, September 23rd. They issued an “outperform” rating and a $15.00 price target on the stock. Royal Bank Of Canada boosted their price target on shares of CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Finally, Weiss Ratings upgraded shares of CorMedix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th.

CorMedix Price Performance

CRMD stock opened at $5.56 on Wednesday. The stock has a 50-day moving average price of $7.69 and a two-hundred day moving average price of $7.65. The stock has a market cap of $433.35 million, a PE ratio of 2.60, a price-to-earnings-growth ratio of 1.01 and a beta of 1.48. The company has a current ratio of 2.56, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31. CorMedix has a 1 year low of $5.30 and a 1 year high of $13.02.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The firm had revenue of $101.93 million for the quarter, compared to the consensus estimate of $96.04 million. CorMedix had a return on equity of 40.52% and a net margin of 40.49%. Equities analysts forecast that CorMedix will post 0.54 EPS for the current fiscal year.

Institutional Trading of CorMedix

Several institutional investors and hedge funds have recently bought and sold shares of CRMD. Alps Advisors Inc. bought a new stake in shares of CorMedix in the 3rd quarter valued at about $566,000. Kestra Advisory Services LLC lifted its stake in CorMedix by 38.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 17,950 shares of the company’s stock valued at $138,000 after purchasing an additional 5,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in CorMedix in the 3rd quarter valued at about $31,000. Profund Advisors LLC lifted its stake in CorMedix by 458.2% in the 3rd quarter. Profund Advisors LLC now owns 127,465 shares of the company’s stock valued at $981,000 after purchasing an additional 104,629 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in CorMedix by 13.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 14,222 shares of the company’s stock worth $113,000 after purchasing an additional 1,736 shares during the period. Institutional investors own 34.18% of the company’s stock.

CorMedix Company Profile

CorMedix Inc is a biopharmaceutical company focused on developing and commercializing products designed to prevent and treat life-threatening infections and inflammatory conditions. The company’s lead product is DefenCath, a catheter-lock solution containing taurolidine and citrate.

DefenCath is approved by the U.S. Food and Drug Administration for use in adult patients with kidney failure who are receiving chronic hemodialysis through a central venous catheter. It is intended to reduce the risk of catheter-related bloodstream infections, a significant complication for patients who depend on long-term vascular access.