CorMedix Inc (NASDAQ:CRMD) Receives Average Rating of “Moderate Buy” from Brokerages

CorMedix Inc (NASDAQ:CRMD) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $15.00.

Several equities analysts recently issued reports on the company. Royal Bank Of Canada raised their price objective on CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Weiss Ratings reissued a “hold (c)” rating on shares of CorMedix in a report on Tuesday, August 11th.

CorMedix Price Performance

CRMD stock opened at $7.89 on Tuesday. The company has a quick ratio of 2.36, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $8.03 and its two-hundred day moving average is $7.75. The company has a market capitalization of $614.95 million, a PE ratio of 3.69 and a beta of 1.50. CorMedix has a 52-week low of $6.13 and a 52-week high of $13.02.

CorMedix (NASDAQ:CRMD) last posted 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 analysts’ expectations of $96.04 million. CorMedix had a net margin of 40.49% and a return on equity of 40.52%. Analysts predict that CorMedix will post 0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CorMedix

Several large investors have recently made changes to their positions in CRMD. Vanguard Group Inc. boosted its position in CorMedix by 13.1% during the 4th quarter. Vanguard Group Inc. now owns 4,499,010 shares of the company’s stock worth $52,323,000 after acquiring an additional 521,352 shares during the period. BlackRock Inc. bought a new position in shares of CorMedix in the second quarter worth $49,644,000. California State Teachers Retirement System increased its holdings in shares of CorMedix by 739.2% during the second quarter. California State Teachers Retirement System now owns 593,766 shares of the company’s stock valued at $4,661,000 after purchasing an additional 523,015 shares during the period. Pacer Advisors Inc. increased its holdings in shares of CorMedix by 128.7% during the first quarter. Pacer Advisors Inc. now owns 580,620 shares of the company’s stock valued at $3,942,000 after purchasing an additional 326,724 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of CorMedix by 150.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 438,629 shares of the company’s stock valued at $3,443,000 after purchasing an additional 263,618 shares in the last quarter. Institutional investors and hedge funds 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 infectious and inflammatory complications associated with medical devices and procedures. The company’s lead product is DefenCath (taurolidine and heparin), an antimicrobial catheter lock solution intended to help reduce catheter-related bloodstream infections in adult patients receiving chronic hemodialysis through central venous catheters.

DefenCath was approved by the U.S.