CorMedix (NASDAQ:CRMD) PT Raised to $13.00 at Needham & Company LLC

CorMedix (NASDAQ:CRMDGet Rating) had its price target boosted by investment analysts at Needham & Company LLC from $12.00 to $13.00 in a report released on Friday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 250.40% from the stock’s current price.

CRMD has been the subject of several other research reports. Truist Financial cut their target price on CorMedix from $27.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, August 12th. JMP Securities lowered their price objective on CorMedix from $19.00 to $14.00 and set a “market outperform” rating for the company in a research report on Tuesday, August 9th. Finally, StockNews.com initiated coverage on CorMedix in a research report on Wednesday, October 12th. They issued a “sell” rating for the company.

CorMedix Trading Up 20.1 %

Shares of NASDAQ CRMD opened at $3.71 on Friday. CorMedix has a 12 month low of $2.64 and a 12 month high of $8.02. The firm has a market capitalization of $152.89 million, a price-to-earnings ratio of -5.01 and a beta of 2.27. The business has a 50-day moving average of $3.02 and a 200-day moving average of $3.58.

CorMedix (NASDAQ:CRMDGet Rating) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. The company had revenue of $0.02 million during the quarter. CorMedix had a negative return on equity of 48.87% and a negative net margin of 25,202.44%. On average, analysts predict that CorMedix will post -0.83 earnings per share for the current 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. Amalgamated Bank purchased a new stake in shares of CorMedix in the first quarter worth $26,000. Pinnacle Associates Ltd. purchased a new stake in shares of CorMedix in the third quarter worth $28,000. Pinnacle Wealth Management Advisory Group LLC purchased a new stake in shares of CorMedix in the third quarter worth $28,000. Quantbot Technologies LP purchased a new stake in shares of CorMedix in the first quarter worth $38,000. Finally, Avestar Capital LLC purchased a new stake in shares of CorMedix in the second quarter worth $40,000. 30.26% of the stock is owned by hedge funds and other institutional investors.

About CorMedix

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CorMedix, Inc operates as a pharmaceutical and medical device company. The firm seeks to license, develop and commercialize prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases. It is developing its product Neutrolin, a novel, non-antibiotic antimicrobial solution designed to prevent costly and dangerous bloodstream infections associated with the use of central venous catheters.

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