CorMedix Inc. (NASDAQ:CRMD) Receives Consensus Recommendation of "Buy" from Analysts

CorMedix Inc. (NASDAQ:CRMD - Get Free Report) has earned an average recommendation of "Buy" from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $14.50.

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of CorMedix from a "sell" rating to a "hold" rating in a research report on Tuesday, April 1st. D. Boral Capital reissued a "buy" rating and set a $15.00 target price on shares of CorMedix in a research note on Tuesday, April 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $12.00 price target on shares of CorMedix in a research note on Wednesday, April 9th. Leerink Partnrs raised shares of CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. Finally, Leerink Partners initiated coverage on shares of CorMedix in a research report on Friday, March 7th. They set an "outperform" rating and a $18.00 price target for the company.

CorMedix Trading Up 0.7 %

CRMD stock traded up $0.06 during mid-day trading on Friday, reaching $9.12. The company's stock had a trading volume of 664,844 shares, compared to its average volume of 1,034,099. The stock has a market cap of $594.46 million, a PE ratio of -11.26 and a beta of 1.57. The company's 50 day moving average is $8.71 and its two-hundred day moving average is $9.79. CorMedix has a fifty-two week low of $3.61 and a fifty-two week high of $13.85.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. The company had revenue of $30.00 million for the quarter, compared to analysts' expectations of $27.46 million. The company's revenue for the quarter was up 29900.0% compared to the same quarter last year. On average, analysts forecast that CorMedix will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of CorMedix

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Elliott Investment Management L.P. raised its position in shares of CorMedix by 85.1% during the 4th quarter. Elliott Investment Management L.P. now owns 2,870,632 shares of the company's stock worth $23,252,000 after acquiring an additional 1,320,109 shares in the last quarter. Palisades Investment Partners LLC acquired a new stake in CorMedix during the fourth quarter worth approximately $2,949,000. J. Goldman & Co LP lifted its position in shares of CorMedix by 221.1% during the 4th quarter. J. Goldman & Co LP now owns 457,320 shares of the company's stock worth $3,704,000 after buying an additional 314,880 shares during the last quarter. Vanguard Group Inc. grew its position in shares of 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 buying an additional 309,514 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of CorMedix by 685.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 194,108 shares of the company's stock valued at $1,568,000 after purchasing an additional 169,397 shares during the last quarter. 34.18% of the stock is currently owned by institutional investors and hedge funds.

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.