CorMedix (NASDAQ:CRMD) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of CorMedix (NASDAQ:CRMD) from a hold rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

Several other research analysts have also recently weighed in on the company. Needham & Company LLC lifted their price target on CorMedix from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, November 10th. Royal Bank Of Canada upped their price objective on CorMedix from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 10th. Oppenheimer restated an “outperform” rating and issued a $13.00 price objective (down from $15.00) on shares of CorMedix in a research report on Friday. Citigroup reaffirmed a “market outperform” rating on shares of CorMedix in a report on Tuesday, November 10th. Finally, Weiss Ratings lowered shares of CorMedix from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.22.

CorMedix Stock Performance

NASDAQ:CRMD traded down $0.18 during mid-day trading on Friday, hitting $4.66. The company’s stock had a trading volume of 2,391,541 shares, compared to its average volume of 1,975,205. CorMedix has a 1 year low of $4.65 and a 1 year high of $13.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 2.36. The stock has a market cap of $363.20 million, a price-to-earnings ratio of 6.75, a PEG ratio of 0.90 and a beta of 1.48. The business’s fifty day moving average is $7.18 and its two-hundred day moving average is $7.57.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings results on Thursday, November 12th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The company had revenue of $54.52 million for the quarter, compared to analyst estimates of $51.76 million. CorMedix had a return on equity of 27.12% and a net margin of 15.49%. Analysts anticipate that CorMedix will post 0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in CorMedix in the 2nd quarter valued at $49,644,000. Marshall Wace LLP raised its position in CorMedix by 53.4% during the third quarter. Marshall Wace LLP now owns 1,195,422 shares of the company’s stock worth $9,205,000 after acquiring an additional 415,887 shares during the period. Pacer Advisors Inc. raised its position in CorMedix by 128.7% during the first quarter. Pacer Advisors Inc. now owns 580,620 shares of the company’s stock worth $3,942,000 after acquiring an additional 326,724 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in CorMedix by 150.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 438,629 shares of the company’s stock worth $3,443,000 after acquiring an additional 263,618 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in CorMedix during the second quarter valued at $3,108,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.

Key CorMedix News

Here’s some of the latest news about CRMD:

• Positive Sentiment: The planned Heron asset acquisition could add an estimated $125 million–$150 million in pro forma 2027 revenue, with management targeting $45 million–$60 million in annual synergies. Heron assets and synergy outlook
• Neutral Sentiment: Oppenheimer reaffirmed its “outperform” rating but lowered its price target to $13 from $15. The lower target is a downgrade to its outlook, though it remains well above the share price cited in the report. Oppenheimer ratings
• Negative Sentiment: DefenCath pricing pressure is weighing on sales expectations, despite the quarterly revenue beat. CorMedix reported a $14.7 million net loss, and coverage described the earnings result as disappointing; progress with Rezzayo and the Heron transaction are part of the company’s longer-term outlook. Zacks coverage of quarterly results and pricing pressure

CorMedix Company Profile

CorMedix Inc. is a biopharmaceutical company focused on products for infectious and inflammatory diseases. Its lead product, DefenCath, is an antimicrobial catheter-lock solution containing taurolidine and heparin. The U.S. Food and Drug Administration approved it to reduce catheter-related bloodstream infections in adults with kidney failure who receive chronic hemodialysis through a central venous catheter. CorMedix expanded its business in 2024 by acquiring Melinta Therapeutics, adding marketed antibiotics to its portfolio.