CorMedix Inc (NASDAQ:CRMD) Receives Consensus Rating of “Moderate Buy” from Analysts

CorMedix Inc (NASDAQ:CRMD) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.00.

A number of research analysts recently commented on the company. Leerink Partners raised their price target on CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. D. Boral Capital reaffirmed a “buy” rating and set a $14.00 price objective on shares of CorMedix in a research report on Monday, April 27th. Needham & Company LLC increased 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. Zacks Research raised CorMedix from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $19.00 price target on shares of CorMedix in a report on Tuesday, April 28th.

CorMedix Trading Down 2.1%

Shares of CRMD stock opened at $8.36 on Friday. The stock has a market cap of $655.84 million, a P/E ratio of 3.92 and a beta of 1.46. CorMedix has a 1 year low of $6.13 and a 1 year high of $17.43. The company has a current ratio of 2.97, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. The stock has a 50 day simple moving average of $7.62 and a 200 day simple moving average of $8.35.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.08. The firm had revenue of $127.43 million for the quarter, compared to analyst estimates of $104.96 million. CorMedix had a return on equity of 45.57% and a net margin of 45.25%.The company’s revenue was up 226.1% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. On average, research analysts predict that CorMedix will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CorMedix

A number of institutional investors have recently added to or reduced their stakes in CRMD. Deerfield Management Company L.P. bought a new stake in shares of CorMedix in the third quarter worth $38,656,000. Marshall Wace LLP boosted its holdings in CorMedix by 34.6% in the third quarter. Marshall Wace LLP now owns 3,473,494 shares of the company’s stock valued at $40,397,000 after acquiring an additional 893,518 shares during the last quarter. UBS Group AG boosted its stake in shares of CorMedix by 295.3% in the 3rd quarter. UBS Group AG now owns 1,090,908 shares of the company’s stock valued at $12,687,000 after purchasing an additional 814,964 shares during the last quarter. Jump Financial LLC acquired a new stake in CorMedix during the 3rd quarter worth about $9,003,000. Finally, Goldman Sachs Group Inc. grew its stake in CorMedix by 259.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 828,781 shares of the company’s stock worth $9,639,000 after purchasing an additional 597,971 shares during the period. 34.18% of the stock is owned by institutional investors.

About CorMedix

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.