CorMedix Inc (NASDAQ:CRMD) Stock Has Consensus Price Target of $15.00 According to Analysts

CorMedix Inc (NASDAQ:CRMD) has been given an average rating of “Moderate Buy” by the nine ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $15.00.

Several equities analysts have commented on the stock. Weiss Ratings upgraded shares of CorMedix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Royal Bank Of Canada boosted their price objective on shares of CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Finally, Oppenheimer started coverage on shares of CorMedix in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $15.00 target price for the company.

Institutional Investors Weigh In On CorMedix

Institutional investors and hedge funds have recently bought and sold shares of the stock. WINTON GROUP Ltd increased its position in shares of CorMedix by 69.7% during the second quarter. WINTON GROUP Ltd now owns 65,061 shares of the company’s stock worth $511,000 after purchasing an additional 26,723 shares in the last quarter. HighTower Advisors LLC grew its stake in CorMedix by 8.2% during the 2nd quarter. HighTower Advisors LLC now owns 32,655 shares of the company’s stock worth $256,000 after buying an additional 2,476 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in CorMedix during the 2nd quarter worth approximately $247,000. Headlands Technologies LLC grew its stake in CorMedix by 63.0% during the 2nd quarter. Headlands Technologies LLC now owns 96,773 shares of the company’s stock worth $760,000 after buying an additional 37,401 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in CorMedix by 5.6% during the second quarter. Wellington Management Group LLP now owns 215,795 shares of the company’s stock worth $1,694,000 after buying an additional 11,530 shares during the period. 34.18% of the stock is owned by hedge funds and other institutional investors.

CorMedix Trading Up 0.8%

NASDAQ:CRMD opened at $7.38 on Friday. The stock has a 50-day simple moving average of $7.86 and a 200-day simple moving average of $7.87. The stock has a market cap of $575.23 million, a P/E ratio of 3.45, a P/E/G ratio of 1.36 and a beta of 1.40. CorMedix has a 1 year low of $6.13 and a 1 year high of $13.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 2.56.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $101.93 million for the quarter, compared to the consensus estimate of $96.04 million. CorMedix had a return on equity of 40.52% and a net margin of 40.49%. As a group, analysts anticipate that CorMedix will post 0.54 earnings per share for the current fiscal year.

About CorMedix

CorMedix Inc is a biopharmaceutical company focused on developing and commercializing products designed to prevent and treat infectious and inflammatory diseases. The company’s lead product is DefenCath^® (taurolidine and heparin), an antimicrobial catheter-lock solution intended to reduce the risk of catheter-related bloodstream infections in adult patients with kidney failure who receive chronic hemodialysis through a central venous catheter.

The U.S. Food and Drug Administration approved DefenCath in 2023.