CorMedix (NASDAQ:CRMD) Research Coverage Started at Oppenheimer

Oppenheimer initiated coverage on shares of CorMedix (NASDAQ:CRMD) in a research report released on Wednesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $15.00 price objective on the stock.

Several other equities research analysts also recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of CorMedix in a report on Tuesday, August 11th. Royal Bank Of Canada raised their price target on CorMedix from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

CorMedix Price Performance

CRMD stock opened at $7.85 on Wednesday. The firm has a 50 day moving average price of $7.90 and a 200-day moving average price of $7.80. CorMedix has a 52-week low of $6.13 and a 52-week high of $13.02. The firm has a market capitalization of $611.83 million, a price-to-earnings ratio of 3.67, a PEG ratio of 1.44 and a beta of 1.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 2.56.

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

Institutional Trading of CorMedix

A number of large investors have recently made changes to their positions in CRMD. Kestra Advisory Services LLC raised its stake in CorMedix by 142.9% during the 1st quarter. Kestra Advisory Services LLC now owns 10,200 shares of the company’s stock valued at $69,000 after buying an additional 6,000 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of CorMedix in the 1st quarter worth $70,000. Quantbot Technologies LP purchased a new position in shares of CorMedix in the 2nd quarter worth $85,000. Allworth Financial LP purchased a new position in shares of CorMedix in the 2nd quarter worth $88,000. Finally, Stoneridge Investment Partners LLC bought a new stake in shares of CorMedix in the second quarter worth $99,000. 34.18% of the stock is currently owned by institutional investors.

About CorMedix

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.