CorMedix Inc. (NYSEMKT:CRMD) PT Set at $3.00 by HC Wainwright
CorMedix Inc. (NYSEMKT:CRMD) has been given a $3.00 price target by equities research analysts at HC Wainwright in a report issued on Thursday. The brokerage presently has a “buy” rating on the biotechnology company’s stock.
Several other brokerages have also recently weighed in on CRMD. FBR & Co reaffirmed a “buy” rating on shares of CorMedix in a research report on Monday, April 24th. Zacks Investment Research raised shares of CorMedix from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research report on Tuesday, April 25th. Finally, Rodman & Renshaw lowered their price target on shares of CorMedix from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 5th.
Shares of CorMedix (CRMD) opened at 0.3647 on Thursday. The stock’s market capitalization is $14.82 million. CorMedix has a 12-month low of $0.34 and a 12-month high of $3.26. The stock’s 50 day moving average is $0.40 and its 200-day moving average is $1.08.
CorMedix (NYSEMKT:CRMD) last announced its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.06. CorMedix had a negative net margin of 19,203.39% and a negative return on equity of 211.19%. On average, analysts expect that CorMedix will post ($0.60) earnings per share for the current year.
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In other news, CEO Khoso Baluch acquired 75,000 shares of CorMedix stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average price of $0.48 per share, for a total transaction of $36,000.00. Following the purchase, the chief executive officer now directly owns 85,000 shares in the company, valued at approximately $40,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have purchased 203,781 shares of company stock valued at $98,362.
CorMedix Company Profile
CorMedix Inc is a commercial pharmaceutical and medical device company. The Company in-licenses, develops and commercializes prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases. The Company has in-licensed the rights to develop and commercialize its product candidate, CRMD003 (Neutrolin), which addresses market opportunities in the instances in which a central venous catheter is used, such as hemodialysis, intensive care units, oncology, and patients receiving total parenteral nutrition, intravenous (IV) hydration, and/or IV medications.
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