CorMedix Inc. (NASDAQ:CRMD) Given Consensus Rating of “Buy” by Brokerages

CorMedix Inc. (NASDAQ:CRMD) has received a consensus recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $15.67.

Several analysts have issued reports on CRMD shares. StockNews.com raised CorMedix to a “sell” rating in a research report on Friday, November 8th. Royal Bank of Canada raised their price objective on CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $15.00 target price on shares of CorMedix in a report on Wednesday.

Institutional Investors Weigh In On CorMedix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRMD. Bank of America Corp DE grew its stake in shares of CorMedix by 1.9% during the fourth quarter. Bank of America Corp DE now owns 60,115 shares of the company’s stock worth $487,000 after acquiring an additional 1,124 shares during the last quarter. FMR LLC boosted its stake in CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after purchasing an additional 1,625 shares in the last quarter. Nuveen Asset Management LLC grew its position in CorMedix by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 171,978 shares of the company’s stock worth $1,393,000 after purchasing an additional 1,679 shares during the last quarter. AlphaMark Advisors LLC increased its stake in CorMedix by 16.7% during the 4th quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company’s stock valued at $113,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of CorMedix by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company’s stock worth $1,214,000 after buying an additional 3,221 shares during the last quarter. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

CorMedix Stock Performance

NASDAQ CRMD opened at $9.49 on Friday. The company has a market cap of $575.82 million, a PE ratio of -11.72 and a beta of 1.57. The firm’s 50 day moving average price is $10.49 and its 200-day moving average price is $9.44. CorMedix has a 52-week low of $3.03 and a 52-week high of $13.85.

CorMedix Company Profile

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.