CorMedix (NASDAQ:CRMD) Announces Earnings Results, Beats Estimates By $0.05 EPS

CorMedix (NASDAQ:CRMD) released its quarterly earnings data on Wednesday. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05, RTT News reports. The business had revenue of $11.46 million during the quarter, compared to analysts’ expectations of $11.00 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share.

CorMedix Stock Performance

Shares of NASDAQ:CRMD opened at $9.99 on Friday. CorMedix has a 52-week low of $2.57 and a 52-week high of $13.85. The firm has a fifty day moving average of $8.55 and a 200 day moving average of $6.14. The firm has a market capitalization of $577.02 million, a PE ratio of -12.33 and a beta of 1.61.

Analyst Ratings Changes

CRMD has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of CorMedix to a “sell” rating in a research report on Saturday. Needham & Company LLC boosted their price target on shares of CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $9.00 price target on shares of CorMedix in a research report on Thursday, August 15th. Truist Financial boosted their price target on shares of CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Rodman & Renshaw started coverage on shares of CorMedix in a research report on Monday, August 26th. They set a “buy” rating and a $13.00 price target for the company. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, CorMedix has an average rating of “Moderate Buy” and an average price target of $15.20.

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.