CorMedix (NASDAQ:CRMD) Earns "Buy" Rating from D. Boral Capital

D. Boral Capital restated their buy rating on shares of CorMedix (NASDAQ:CRMD - Free Report) in a research report report published on Tuesday,Benzinga reports. D. Boral Capital currently has a $15.00 price target on the stock.

Several other analysts have also recently issued reports on the company. Leerink Partners began coverage on CorMedix in a report on Friday, March 7th. They set an "outperform" rating and a $18.00 price objective on the stock. Royal Bank of Canada boosted their price target on shares of CorMedix from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. Finally, Leerink Partnrs upgraded shares of CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CorMedix currently has an average rating of "Moderate Buy" and an average price target of $15.14.

CorMedix Stock Performance

Shares of NASDAQ CRMD traded up $0.03 during midday trading on Tuesday, reaching $6.74. The stock had a trading volume of 2,200,677 shares, compared to its average volume of 986,539. The company has a market capitalization of $408.96 million, a price-to-earnings ratio of -8.32 and a beta of 1.53. CorMedix has a 12-month low of $3.61 and a 12-month high of $13.85. The stock has a 50-day moving average of $10.43 and a 200-day moving average of $9.91.

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CorMedix (NASDAQ:CRMD - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. The business had revenue of $30.00 million during the quarter, compared to analysts' expectations of $27.46 million. CorMedix's revenue was up 29900.0% on a year-over-year basis. As a group, analysts forecast that CorMedix will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On CorMedix

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in CorMedix by 1.9% during the 4th quarter. Bank of America Corp DE now owns 60,115 shares of the company's stock valued at $487,000 after acquiring an additional 1,124 shares during the period. FMR LLC raised its holdings in shares of CorMedix by 54.3% during the third quarter. FMR LLC now owns 4,618 shares of the company's stock worth $37,000 after purchasing an additional 1,625 shares during the last quarter. Nuveen Asset Management LLC lifted its position in CorMedix by 1.0% during the fourth quarter. Nuveen Asset Management LLC now owns 171,978 shares of the company's stock valued at $1,393,000 after purchasing an additional 1,679 shares during the period. AlphaMark Advisors LLC boosted its holdings in CorMedix by 16.7% in the fourth quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company's stock valued at $113,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in CorMedix by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company's stock worth $1,214,000 after purchasing an additional 3,221 shares during the period. Institutional investors and hedge funds 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.