CorMedix (NASDAQ:CRMD) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

CorMedix (NASDAQ:CRMD - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05, Briefing.com reports. The company had revenue of $30.00 million for the quarter, compared to analysts' expectations of $27.46 million. The business's revenue was up 29900.0% compared to the same quarter last year.

CorMedix Stock Up 0.4 %

Shares of CRMD traded up $0.03 on Friday, reaching $6.74. The stock had a trading volume of 2,200,677 shares, compared to its average volume of 986,539. CorMedix has a twelve month low of $3.61 and a twelve month high of $13.85. The firm has a market capitalization of $408.96 million, a PE ratio of -8.32 and a beta of 1.53. The firm has a 50-day moving average of $10.43 and a 200 day moving average of $9.91.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CRMD shares. Royal Bank of Canada restated an "outperform" rating and set a $12.00 price objective on shares of CorMedix in a research report on Wednesday. Leerink Partnrs upgraded shares of CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. D. Boral Capital reiterated a "buy" rating and set a $15.00 target price on shares of CorMedix in a research report on Tuesday. Needham & Company LLC reduced their price target on CorMedix from $18.00 to $12.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Leerink Partners started coverage on CorMedix in a research note on Friday, March 7th. They issued an "outperform" rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $15.14.

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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.