CorMedix’s (CRMD) Buy Rating Reaffirmed at D. Boral Capital

CorMedix (NASDAQ:CRMD)‘s stock had its “buy” rating reiterated by investment analysts at D. Boral Capital in a report released on Tuesday,Benzinga reports. They currently have a $15.00 price target on the stock. D. Boral Capital’s price objective indicates a potential upside of 39.28% from the company’s current price.

Several other equities analysts have also recently commented on the company. Leerink Partners began coverage on CorMedix in a research report on Friday, March 7th. They set an “outperform” rating and a $18.00 target price for the company. Leerink Partnrs raised CorMedix to a “strong-buy” rating in a report on Friday, March 7th. Finally, Royal Bank of Canada raised their price objective on CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CorMedix has an average rating of “Moderate Buy” and a consensus target price of $16.00.

CorMedix Stock Performance

CRMD opened at $10.77 on Tuesday. CorMedix has a fifty-two week low of $3.61 and a fifty-two week high of $13.85. The firm has a 50-day moving average of $10.84 and a 200 day moving average of $9.91. The firm has a market cap of $653.49 million, a P/E ratio of -13.30 and a beta of 1.53.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.17. The firm had revenue of $30.00 million during the quarter, compared to the consensus estimate of $27.46 million. The business’s quarterly revenue was up 29900.0% on a year-over-year basis. Equities research analysts predict that CorMedix will post -0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CorMedix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in shares of CorMedix by 1.9% in the fourth quarter. Bank of America Corp DE now owns 60,115 shares of the company’s stock worth $487,000 after acquiring an additional 1,124 shares during the last quarter. FMR LLC raised its holdings in CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after acquiring an additional 1,625 shares during the last quarter. Nuveen Asset Management LLC lifted its position in CorMedix by 1.0% in the 4th quarter. Nuveen Asset Management LLC now owns 171,978 shares of the company’s stock valued at $1,393,000 after acquiring an additional 1,679 shares in the last quarter. AlphaMark Advisors LLC boosted its stake in CorMedix by 16.7% during the 4th 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 boosted its stake in CorMedix by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company’s stock valued at $1,214,000 after purchasing an additional 3,221 shares during the last quarter. 34.18% of the stock is owned by hedge funds and other 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.