CorMedix Inc. (NASDAQ:CRMD) Given Consensus Rating of "Buy" by Brokerages

Shares of CorMedix Inc. (NASDAQ:CRMD - Get Free Report) have received a consensus recommendation of "Buy" from the five brokerages that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $15.80.

CRMD has been the topic of several analyst reports. Needham & Company LLC upped their target price on CorMedix from $10.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Rodman & Renshaw started coverage on shares of CorMedix in a research note on Monday, August 26th. They issued a "buy" rating and a $13.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of CorMedix from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Thursday. Truist Financial upped their price target on shares of CorMedix from $12.00 to $17.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Finally, StockNews.com raised CorMedix to a "sell" rating in a research report on Friday, November 8th.

Insider Activity

In related news, EVP Elizabeth Hurlburt sold 140,027 shares of CorMedix stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $11.18, for a total value of $1,565,501.86. Following the completion of the sale, the executive vice president now owns 45,397 shares of the company's stock, valued at approximately $507,538.46. This trade represents a 75.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. FMR LLC boosted its position in shares of CorMedix by 54.3% during 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. The Manufacturers Life Insurance Company lifted its stake in CorMedix by 13.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company's stock valued at $100,000 after acquiring an additional 2,700 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in CorMedix by 10.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 52,184 shares of the company's stock worth $422,000 after acquiring an additional 4,935 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of 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 acquiring an additional 6,761 shares in the last quarter. Finally, Sigma Planning Corp raised its holdings in shares of CorMedix by 23.8% in the third quarter. Sigma Planning Corp now owns 39,947 shares of the company's stock valued at $323,000 after purchasing an additional 7,679 shares during the last quarter. 34.18% of the stock is owned by institutional investors.

CorMedix Stock Performance

Shares of NASDAQ:CRMD traded down $0.30 during mid-day trading on Friday, reaching $8.57. 2,460,722 shares of the company's stock were exchanged, compared to its average volume of 754,286. The firm has a market capitalization of $520.00 million, a price-to-earnings ratio of -10.58 and a beta of 1.54. CorMedix has a twelve month low of $2.89 and a twelve month high of $13.85. The business's fifty day moving average price is $10.35 and its 200-day moving average price is $7.29.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.05. The company had revenue of $11.46 million for the quarter, compared to analyst estimates of $11.00 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. Analysts predict that CorMedix will post -0.46 EPS for the current fiscal year.

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.