Shares of CorMedix Inc. (NASDAQ:CRMD - Get Free Report) have earned a consensus rating of "Buy" from the eight research firms that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $16.00.
CRMD has been the subject of several analyst reports. D. Boral Capital reaffirmed a "buy" rating and set a $15.00 price objective on shares of CorMedix in a research report on Wednesday, March 5th. Leerink Partners began coverage on shares of CorMedix in a research note on Friday. They issued an "outperform" rating and a $18.00 price target on the stock. Royal Bank of Canada boosted their price objective on shares of CorMedix from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. Finally, Leerink Partnrs upgraded shares of CorMedix to a "strong-buy" rating in a report on Friday.
Check Out Our Latest Stock Report on CRMD
CorMedix Stock Performance
Shares of NASDAQ:CRMD traded up $0.02 during trading hours on Friday, reaching $10.73. The stock had a trading volume of 937,589 shares, compared to its average volume of 1,089,833. CorMedix has a 1 year low of $3.03 and a 1 year high of $13.85. The firm's 50 day moving average is $10.54 and its 200-day moving average is $9.54. The stock has a market capitalization of $651.06 million, a price-to-earnings ratio of -13.25 and a beta of 1.53.
Institutional Trading of CorMedix
A number of large investors have recently bought and sold shares of CRMD. FMR LLC raised its holdings in shares of CorMedix by 54.3% in the third quarter. FMR LLC now owns 4,618 shares of the company's stock valued at $37,000 after buying an additional 1,625 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in CorMedix during the 4th quarter valued at approximately $81,000. Captrust Financial Advisors acquired a new stake in CorMedix during the 4th quarter worth approximately $90,000. Aigen Investment Management LP acquired a new stake in CorMedix during the 4th quarter worth approximately $94,000. Finally, XTX Topco Ltd purchased a new position in shares of CorMedix in the 4th quarter valued at approximately $95,000. Institutional investors and hedge funds own 34.18% of the company's stock.
CorMedix Company Profile
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Get Free ReportCorMedix 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.
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