CorMedix Inc. (NASDAQ:CRMD) Given Average Rating of "Buy" by Analysts

CorMedix Inc. (NASDAQ:CRMD - Get Free Report) has earned a consensus rating of "Buy" from the six research firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $15.67.

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of CorMedix to a "sell" rating in a report on Friday, November 8th. Truist Financial lifted their price objective on shares of CorMedix from $12.00 to $17.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on shares of CorMedix from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. D. Boral Capital reaffirmed a "buy" rating and set a $15.00 price objective on shares of CorMedix in a report on Wednesday, January 22nd. Finally, Needham & Company LLC boosted their price target on shares of CorMedix from $10.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, October 31st.

Hedge Funds Weigh In On CorMedix

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in CorMedix by 10.1% in the 4th quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company's stock valued at $27,363,000 after acquiring an additional 309,514 shares during the period. Geode Capital Management LLC raised its stake in CorMedix by 8.4% in the 4th quarter. Geode Capital Management LLC now owns 1,392,820 shares of the company's stock valued at $11,284,000 after acquiring an additional 108,356 shares during the period. State Street Corp raised its stake in CorMedix by 0.8% in the 3rd quarter. State Street Corp now owns 1,225,756 shares of the company's stock valued at $9,904,000 after acquiring an additional 10,204 shares during the period. JPMorgan Chase & Co. raised its stake in CorMedix by 40.8% in the 4th quarter. JPMorgan Chase & Co. now owns 273,218 shares of the company's stock valued at $2,213,000 after acquiring an additional 79,110 shares during the period. Finally, Wellington Management Group LLP raised its stake in CorMedix by 130.7% in the 3rd quarter. Wellington Management Group LLP now owns 180,948 shares of the company's stock valued at $1,462,000 after acquiring an additional 102,527 shares during the period. 34.18% of the stock is owned by hedge funds and other institutional investors.

CorMedix Stock Performance

CRMD traded up $0.44 during mid-day trading on Monday, reaching $10.44. 517,270 shares of the stock were exchanged, compared to its average volume of 1,233,413. The stock has a market capitalization of $633.47 million, a PE ratio of -12.89 and a beta of 1.57. The company has a 50 day moving average price of $10.01 and a two-hundred day moving average price of $8.80. CorMedix has a 1 year low of $3.03 and a 1 year high of $13.85.

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.