CorMedix (NASDAQ:CRMD) Upgraded to Sell at StockNews.com

CorMedix (NASDAQ:CRMD - Get Free Report) was upgraded by StockNews.com to a "sell" rating in a research note issued on Friday.

Several other analysts also recently commented on CRMD. Truist Financial increased their target price on shares of CorMedix from $12.00 to $17.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Needham & Company LLC increased their price objective on shares of CorMedix from $10.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Rodman & Renshaw assumed coverage on CorMedix in a research note on Monday, August 26th. They issued a "buy" rating and a $13.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $9.00 price target on shares of CorMedix in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $15.20.

CorMedix Trading Up 9.1 %

NASDAQ CRMD traded up $0.97 on Friday, hitting $11.60. 1,502,135 shares of the company were exchanged, compared to its average volume of 721,740. The company has a market cap of $703.85 million, a PE ratio of -14.32 and a beta of 1.58. The stock has a fifty day moving average of $8.98 and a 200-day moving average of $6.32. CorMedix has a 12 month low of $2.57 and a 12 month high of $13.85.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.05. The business had revenue of $11.46 million for the quarter, compared to the consensus estimate of $11.00 million. During the same quarter last year, the firm posted ($0.17) EPS. On average, analysts expect that CorMedix will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On CorMedix

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in CorMedix by 3.6% in the first quarter. Vanguard Group Inc. now owns 2,928,186 shares of the company's stock worth $12,416,000 after buying an additional 102,851 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in CorMedix by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company's stock valued at $63,000 after acquiring an additional 2,562 shares during the period. Tidal Investments LLC purchased a new stake in CorMedix during the first quarter valued at about $60,000. Bank of New York Mellon Corp boosted its position in CorMedix by 19.3% during the second quarter. Bank of New York Mellon Corp now owns 158,901 shares of the company's stock worth $688,000 after purchasing an additional 25,677 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of CorMedix in the second quarter worth about $44,000. Hedge funds and other institutional investors own 34.18% of the company's stock.

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.