CorMedix (NASDAQ:CRMD) Stock Rating Upgraded by StockNews.com

CorMedix (NASDAQ:CRMD - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Tuesday.

Several other equities analysts have also recently issued reports on the stock. Leerink Partners began coverage on shares of CorMedix in a research note on Friday, March 7th. They issued an "outperform" rating and a $18.00 price objective on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $12.00 price objective on shares of CorMedix in a research report on Wednesday, March 26th. Needham & Company LLC dropped their target price on CorMedix from $18.00 to $12.00 and set a "buy" rating on the stock in a research report on Wednesday, March 26th. D. Boral Capital reissued a "buy" rating and issued a $15.00 price target on shares of CorMedix in a report on Tuesday, March 25th. Finally, Leerink Partnrs upgraded CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CorMedix currently has a consensus rating of "Buy" and an average target price of $15.14.

CorMedix Price Performance

Shares of CRMD stock traded down $0.24 during trading hours on Tuesday, hitting $5.86. The stock had a trading volume of 1,166,194 shares, compared to its average volume of 1,005,239. The stock's 50 day moving average is $9.81 and its 200 day moving average is $9.88. The firm has a market capitalization of $381.97 million, a PE ratio of -7.23 and a beta of 1.57. CorMedix has a twelve month low of $3.61 and a twelve month high of $13.85.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The business had revenue of $30.00 million for the quarter, compared to analyst estimates of $27.46 million. The company's revenue for the quarter was up 29900.0% compared to the same quarter last year. As a group, equities analysts predict that CorMedix will post -0.32 earnings per share for the current year.

Institutional Trading of CorMedix

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in CorMedix by 685.5% during the third quarter. JPMorgan Chase & Co. now owns 194,108 shares of the company's stock worth $1,568,000 after buying an additional 169,397 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in CorMedix by 8.2% in the 4th quarter. Bank of New York Mellon Corp now owns 129,695 shares of the company's stock valued at $1,051,000 after acquiring an additional 9,782 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of CorMedix by 1,398.2% during the 4th quarter. New York State Common Retirement Fund now owns 167,249 shares of the company's stock worth $1,355,000 after purchasing an additional 156,086 shares during the period. State Street Corp boosted its holdings in shares of CorMedix by 0.8% during the third quarter. State Street Corp now owns 1,225,756 shares of the company's stock worth $9,904,000 after purchasing an additional 10,204 shares during the last quarter. Finally, AlphaQuest LLC purchased a new stake in shares of CorMedix in the fourth quarter valued at $115,000. 34.18% of the stock is currently owned by institutional investors and hedge funds.

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.