CorMedix (NASDAQ:CRMD) Coverage Initiated by Analysts at D. Boral Capital

D. Boral Capital assumed coverage on shares of CorMedix (NASDAQ:CRMD) in a report issued on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $15.00 price objective on the stock.

CRMD has been the topic of a number of other reports. Truist Financial upped their price target on CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Needham & Company LLC raised their price objective on CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price target on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, StockNews.com upgraded CorMedix to a “sell” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.67.

CorMedix Stock Performance

Shares of CRMD opened at $11.12 on Monday. CorMedix has a fifty-two week low of $2.89 and a fifty-two week high of $13.85. The business has a 50-day moving average of $9.65 and a 200 day moving average of $7.78. The firm has a market cap of $674.73 million, a P/E ratio of -13.73 and a beta of 1.56.

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 firm had revenue of $11.46 million during the quarter, compared to the consensus estimate of $11.00 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. As a group, research analysts predict that CorMedix will post -0.46 earnings per share for the current fiscal year.

Insider Transactions at CorMedix

In other CorMedix news, EVP Elizabeth Hurlburt sold 140,027 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 45,397 shares in the company, valued at approximately $507,538.46. The trade was a 75.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.20% of the company’s stock.

Institutional Trading of CorMedix

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in CorMedix by 19.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 158,901 shares of the company’s stock valued at $688,000 after buying an additional 25,677 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of CorMedix in the 2nd quarter valued at about $44,000. Commonwealth Equity Services LLC raised its stake in shares of CorMedix by 150.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 94,752 shares of the company’s stock valued at $410,000 after purchasing an additional 56,963 shares in the last quarter. Rhumbline Advisers raised its stake in shares of CorMedix by 18.0% in the 2nd quarter. Rhumbline Advisers now owns 74,239 shares of the company’s stock valued at $321,000 after purchasing an additional 11,339 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of CorMedix by 109.6% in the 2nd quarter. Marshall Wace LLP now owns 152,275 shares of the company’s stock valued at $659,000 after purchasing an additional 79,619 shares in the last quarter. 34.18% of the stock is owned by hedge funds and other institutional investors.

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.