CorMedix Inc. (NASDAQ:CRMD – Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $12.00 to $17.00. Truist Financial currently has a buy rating on the stock. CorMedix traded as high as $11.49 and last traded at $11.30, with a volume of 55881 shares traded. The stock had previously closed at $11.20.
A number of other brokerages have also recently weighed in on CRMD. Royal Bank of Canada reissued an “outperform” rating and set a $9.00 price target on shares of CorMedix in a research report on Thursday, August 15th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of CorMedix in a research note on Thursday, August 15th. Finally, Rodman & Renshaw assumed coverage on CorMedix in a research report on Monday, August 26th. They set a “buy” rating and a $13.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $13.60.
View Our Latest Stock Report on CorMedix
Hedge Funds Weigh In On CorMedix
CorMedix Stock Up 2.6 %
The stock’s fifty day moving average price is $7.62 and its 200-day moving average price is $5.84. The company has a market capitalization of $678.74 million, a price-to-earnings ratio of -13.28 and a beta of 1.61.
CorMedix (NASDAQ:CRMD – Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.01. The business had revenue of $0.81 million during the quarter, compared to analyst estimates of $0.75 million. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. Analysts anticipate that CorMedix Inc. will post -0.58 EPS for the current year.
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.
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