CorMedix (NASDAQ:CRMD) Shares Gap Up on Earnings Beat

Shares of CorMedix Inc (NASDAQ:CRMD) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $11.19, but opened at $11.74. CorMedix shares last traded at $12.5860, with a volume of 4,053,343 shares trading hands.

The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.79. The business had revenue of $2.73 million for the quarter, compared to analyst estimates of $65.63 million. CorMedix had a net margin of 42.11% and a return on equity of 42.73%. The company’s quarterly revenue was up 810.2% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share. CorMedix has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

Wall Street Analysts Forecast Growth

CRMD has been the topic of several research reports. JMP Securities restated a “market outperform” rating and set a $22.00 price target on shares of CorMedix in a research note on Tuesday, September 9th. HC Wainwright dropped their target price on shares of CorMedix from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $22.00 target price (up previously from $21.00) on shares of CorMedix in a research report on Tuesday, October 21st. Zacks Research raised shares of CorMedix from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen downgraded shares of CorMedix from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 11th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $18.83.

Insider Transactions at CorMedix

In other CorMedix news, CEO Joseph Todisco sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $13.00, for a total transaction of $650,000.00. Following the sale, the chief executive officer owned 509,496 shares of the company’s stock, valued at approximately $6,623,448. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Myron Kaplan purchased 25,000 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were bought at an average price of $11.02 per share, for a total transaction of $275,500.00. Following the purchase, the director directly owned 201,034 shares in the company, valued at $2,215,394.68. This represents a 14.20% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 163,997 shares of company stock worth $2,163,617 over the last ninety days. 3.10% of the stock is currently owned by insiders.

Institutional Trading of CorMedix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its holdings in CorMedix by 17.9% in the second quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock valued at $81,000 after buying an additional 998 shares in the last quarter. Russell Investments Group Ltd. grew its stake in CorMedix by 22.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock valued at $81,000 after acquiring an additional 1,190 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in CorMedix by 11.9% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 13,622 shares of the company’s stock worth $168,000 after acquiring an additional 1,451 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in CorMedix by 5.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,114 shares of the company’s stock worth $338,000 after acquiring an additional 1,478 shares during the period. Finally, Palisades Investment Partners LLC lifted its holdings in CorMedix by 0.3% during the third quarter. Palisades Investment Partners LLC now owns 564,106 shares of the company’s stock valued at $6,561,000 after purchasing an additional 1,579 shares in the last quarter. Institutional investors and hedge funds own 34.18% of the company’s stock.

CorMedix Price Performance

The company’s fifty day simple moving average is $11.49 and its 200-day simple moving average is $12.06. The firm has a market capitalization of $948.31 million, a PE ratio of 16.13 and a beta of 1.80.

About CorMedix

CorMedix Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.