CorMedix (NASDAQ:CRMD) Receives Buy Rating from D. Boral Capital

CorMedix (NASDAQ:CRMD)‘s stock had its “buy” rating reaffirmed by investment analysts at D. Boral Capital in a research report issued on Tuesday,Benzinga reports. They presently have a $15.00 price objective on the stock. D. Boral Capital’s price objective suggests a potential upside of 39.28% from the company’s current price.

CRMD has been the subject of a number of other reports. Leerink Partnrs upgraded CorMedix to a “strong-buy” rating in a research note on Friday, March 7th. Royal Bank of Canada boosted their target price on shares of CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Finally, Leerink Partners started coverage on shares of CorMedix in a research report on Friday, March 7th. They issued an “outperform” rating and a $18.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CorMedix has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

CorMedix Trading Down 1.3 %

Shares of CRMD stock opened at $10.77 on Tuesday. CorMedix has a 12-month low of $3.61 and a 12-month high of $13.85. The stock has a market capitalization of $653.49 million, a P/E ratio of -13.30 and a beta of 1.53. The firm’s 50 day moving average is $10.84 and its 200 day moving average is $9.91.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.17. The firm had revenue of $30.00 million during the quarter, compared to analysts’ expectations of $27.46 million. The business’s quarterly revenue was up 29900.0% on a year-over-year basis. As a group, equities analysts predict that CorMedix will post -0.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in CorMedix during the third quarter valued at about $119,000. FMR LLC raised its stake in CorMedix by 54.3% during the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after purchasing an additional 1,625 shares during the period. BNP Paribas Financial Markets lifted its holdings in CorMedix by 130.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock worth $97,000 after purchasing an additional 6,761 shares in the last quarter. Parallax Volatility Advisers L.P. bought a new position in CorMedix in the 3rd quarter worth approximately $648,000. Finally, State Street Corp grew its holdings in CorMedix by 0.8% during the 3rd quarter. State Street Corp now owns 1,225,756 shares of the company’s stock valued at $9,904,000 after buying an additional 10,204 shares in the last quarter. Hedge funds and other institutional investors own 34.18% of the company’s stock.

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.