CorMedix (NASDAQ:CRMD) Coverage Initiated by Analysts at Leerink Partners

Analysts at Leerink Partners initiated coverage on shares of CorMedix (NASDAQ:CRMD) in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $18.00 price target on the stock. Leerink Partners’ price target points to a potential upside of 89.67% from the company’s previous close.

A number of other research analysts have also commented on the stock. D. Boral Capital restated a “buy” rating and issued a $15.00 price objective on shares of CorMedix in a research note on Wednesday. StockNews.com raised shares of CorMedix to a “sell” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada lifted their target price 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. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

CorMedix Price Performance

Shares of NASDAQ:CRMD opened at $9.49 on Friday. The company’s fifty day moving average price is $10.49 and its 200 day moving average price is $9.44. CorMedix has a 12 month low of $3.03 and a 12 month high of $13.85. The firm has a market capitalization of $575.82 million, a P/E ratio of -11.72 and a beta of 1.57.

Institutional Trading of CorMedix

Several hedge funds have recently bought and sold shares of the company. FMR LLC raised its position in shares of CorMedix by 54.3% during the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after buying an additional 1,625 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of CorMedix during the 4th quarter worth about $81,000. Captrust Financial Advisors bought a new stake in shares of CorMedix during the 4th quarter worth about $90,000. Aigen Investment Management LP bought a new stake in shares of CorMedix during the 4th quarter worth about $94,000. Finally, XTX Topco Ltd bought a new stake in shares of CorMedix during the 4th quarter worth about $95,000. 34.18% of the stock is currently owned by institutional investors.

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.