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

CorMedix Inc. (NASDAQ:CRMD) has earned an average rating of “Buy” from the five research firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have covered the stock in the last year is $15.20.

A number of analysts have recently commented on CRMD shares. Royal Bank of Canada restated an “outperform” rating and issued a $9.00 price target on shares of CorMedix in a research note on Thursday, August 15th. Needham & Company LLC boosted their target price on CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Rodman & Renshaw initiated coverage on CorMedix in a report on Monday, August 26th. They set a “buy” rating and a $13.00 price target for the company. Truist Financial lifted their price target on CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com raised shares of CorMedix to a “sell” rating in a research report on Friday, November 8th.

CorMedix Stock Down 1.2 %

NASDAQ CRMD opened at $9.86 on Wednesday. The firm has a market capitalization of $598.30 million, a PE ratio of -12.17 and a beta of 1.58. The stock’s 50 day moving average is $10.20 and its 200 day moving average is $6.87. CorMedix has a twelve month low of $2.89 and a twelve month high of $13.85.

CorMedix (NASDAQ:CRMD) last released its earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The business had revenue of $11.46 million during the quarter, compared to analysts’ expectations of $11.00 million. During the same period in the prior year, the company earned ($0.17) earnings per share. On average, research analysts anticipate that CorMedix will post -0.46 earnings per share for the current year.

Insiders Place Their Bets

In other CorMedix news, EVP Elizabeth Hurlburt sold 140,027 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $11.18, for a total value of $1,565,501.86. Following the transaction, the executive vice president now directly owns 45,397 shares of the company’s stock, valued at approximately $507,538.46. This trade represents a 75.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.20% of the stock is currently owned by insiders.

Institutional Trading of CorMedix

Large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of CorMedix by 54.3% during the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after acquiring an additional 1,625 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in CorMedix by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock worth $63,000 after purchasing an additional 2,562 shares during the period. The Manufacturers Life Insurance Company raised its holdings in CorMedix by 13.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock worth $100,000 after purchasing an additional 2,700 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in CorMedix by 10.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 52,184 shares of the company’s stock valued at $422,000 after purchasing an additional 4,935 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in CorMedix by 130.3% during the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock valued at $97,000 after purchasing an additional 6,761 shares during the period. 34.18% of the stock is currently owned by institutional investors.

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.