CorMedix (NASDAQ:CRMD) Announces Earnings Results, Beats Estimates By $0.05 EPS

CorMedix (NASDAQ:CRMD) announced its earnings results on Wednesday. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05, RTT News reports. The company had revenue of $11.46 million during the quarter, compared to the consensus estimate of $11.00 million. During the same quarter in the prior year, the company earned ($0.17) EPS.

CorMedix Trading Up 0.2 %

Shares of CRMD traded up $0.02 during midday trading on Thursday, hitting $10.07. The stock had a trading volume of 876,703 shares, compared to its average volume of 695,156. The firm has a market cap of $581.65 million, a P/E ratio of -10.81 and a beta of 1.61. The business has a 50-day simple moving average of $8.36 and a two-hundred day simple moving average of $6.08. CorMedix has a fifty-two week low of $2.57 and a fifty-two week high of $13.85.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRMD. Royal Bank of Canada restated an “outperform” rating and set a $9.00 price objective on shares of CorMedix in a research report on Thursday, August 15th. Needham & Company LLC raised their target price on shares of CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday. Rodman & Renshaw initiated coverage on shares of CorMedix in a report on Monday, August 26th. They issued a “buy” rating and a $13.00 target price for the company. Finally, Truist Financial raised their target price on shares of CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $15.20.

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.