CorMedix (NASDAQ:CRMD) Upgraded at StockNews.com

StockNews.com upgraded shares of CorMedix (NASDAQ:CRMD) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

A number of other brokerages also recently issued reports on CRMD. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price objective on shares of CorMedix in a research note on Wednesday, March 26th. Leerink Partners assumed coverage on shares of CorMedix in a research report on Friday, March 7th. They set an “outperform” rating and a $18.00 price target for the company. Needham & Company LLC decreased their price objective on shares of CorMedix from $18.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, March 26th. D. Boral Capital restated a “buy” rating and set a $15.00 price target on shares of CorMedix in a research note on Tuesday, March 25th. Finally, Leerink Partnrs raised shares of CorMedix to a “strong-buy” rating in a report on Friday, March 7th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.14.

CorMedix Stock Performance

CorMedix stock opened at $6.10 on Tuesday. CorMedix has a fifty-two week low of $3.61 and a fifty-two week high of $13.85. The firm’s 50-day simple moving average is $9.94 and its 200 day simple moving average is $9.87. The stock has a market cap of $397.61 million, a PE ratio of -7.53 and a beta of 1.53.

CorMedix (NASDAQ:CRMD) last announced its earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The business had revenue of $30.00 million during the quarter, compared to analysts’ expectations of $27.46 million. The business’s revenue was up 29900.0% on a year-over-year basis. As a group, analysts predict that CorMedix will post -0.32 EPS for the current fiscal year.

Institutional Trading of CorMedix

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of CorMedix by 54.3% in the third quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after buying an additional 1,625 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in CorMedix in the 4th quarter worth about $81,000. Captrust Financial Advisors bought a new position in CorMedix in the 4th quarter worth about $90,000. Aigen Investment Management LP purchased a new stake in shares of CorMedix in the 4th quarter valued at about $94,000. Finally, XTX Topco Ltd bought a new stake in shares of CorMedix during the 4th quarter valued at about $95,000. Institutional investors own 34.18% of the company’s stock.

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.