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

Shares of CorMedix Inc (NASDAQ:CRMD) have earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $15.00.

CRMD has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of CorMedix in a research note on Tuesday, August 11th. Royal Bank Of Canada raised their price target on shares of CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Finally, Oppenheimer started coverage on shares of CorMedix in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $15.00 price objective on the stock.

Institutional Investors Weigh In On CorMedix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC increased its position in shares of CorMedix by 142.9% in the first quarter. Kestra Advisory Services LLC now owns 10,200 shares of the company’s stock valued at $69,000 after acquiring an additional 6,000 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of CorMedix during the 1st quarter worth approximately $70,000. Quantbot Technologies LP bought a new position in shares of CorMedix in the second quarter valued at about $85,000. Allworth Financial LP bought a new position in CorMedix in the 2nd quarter valued at about $88,000. Finally, Stoneridge Investment Partners LLC bought a new stake in shares of CorMedix during the second quarter worth approximately $99,000. 34.18% of the stock is currently owned by institutional investors and hedge funds.

CorMedix Stock Performance

CRMD opened at $7.26 on Friday. The business’s 50-day moving average price is $7.86 and its two-hundred day moving average price is $7.85. CorMedix has a 1 year low of $6.13 and a 1 year high of $13.02. The company has a market capitalization of $565.84 million, a price-to-earnings ratio of 3.39, a P/E/G ratio of 1.33 and a beta of 1.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 2.36.

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

About CorMedix

CorMedix Inc is a biopharmaceutical company focused on developing and commercializing products designed to prevent and treat infectious and inflammatory diseases. The company’s lead product is DefenCath^® (taurolidine and heparin), an antimicrobial catheter-lock solution intended to reduce the risk of catheter-related bloodstream infections in adult patients with kidney failure who receive chronic hemodialysis through a central venous catheter.

The U.S. Food and Drug Administration approved DefenCath in 2023.