Canaccord Genuity Group Boosts KORU Medical Systems (NASDAQ:KRMD) Price Target to $4.00

KORU Medical Systems (NASDAQ:KRMD) had its target price increased by analysts at Canaccord Genuity Group from $3.00 to $4.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 28.62% from the stock’s previous close.

Other analysts have also issued research reports about the company. Piper Sandler raised their target price on shares of KORU Medical Systems from $3.00 to $3.50 and gave the stock an “overweight” rating in a report on Thursday. B. Riley began coverage on shares of KORU Medical Systems in a research report on Thursday, July 25th. They set a “buy” rating and a $4.00 price target for the company.

KORU Medical Systems Trading Down 2.8 %

Shares of NASDAQ KRMD traded down $0.09 during midday trading on Thursday, reaching $3.11. The company had a trading volume of 34,443 shares, compared to its average volume of 114,464. The firm’s fifty day moving average price is $2.64 and its 200-day moving average price is $2.46. The company has a quick ratio of 3.27, a current ratio of 3.77 and a debt-to-equity ratio of 0.01. KORU Medical Systems has a one year low of $1.98 and a one year high of $3.40. The stock has a market cap of $142.59 million, a PE ratio of -12.56 and a beta of 0.41.

Institutional Trading of KORU Medical Systems

Several large investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC increased its position in shares of KORU Medical Systems by 1.1% during the first quarter. First Light Asset Management LLC now owns 5,220,990 shares of the company’s stock valued at $12,322,000 after buying an additional 57,253 shares during the period. Archon Capital Management LLC grew its holdings in shares of KORU Medical Systems by 6.2% during the 1st quarter. Archon Capital Management LLC now owns 3,951,393 shares of the company’s stock worth $9,325,000 after acquiring an additional 230,517 shares during the period. Vanguard Group Inc. raised its position in shares of KORU Medical Systems by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,961,764 shares of the company’s stock worth $4,630,000 after acquiring an additional 51,890 shares in the last quarter. Meros Investment Management LP lifted its stake in shares of KORU Medical Systems by 20.7% in the 2nd quarter. Meros Investment Management LP now owns 804,380 shares of the company’s stock valued at $2,132,000 after purchasing an additional 137,918 shares during the period. Finally, Lakewood Asset Management LLC lifted its stake in shares of KORU Medical Systems by 13.9% in the 2nd quarter. Lakewood Asset Management LLC now owns 68,225 shares of the company’s stock valued at $181,000 after purchasing an additional 8,300 shares during the period. Institutional investors own 58.60% of the company’s stock.

KORU Medical Systems Company Profile

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria.