Truist Financial Reaffirms Buy Rating for CorMedix (NASDAQ:CRMD)

Truist Financial restated their buy rating on shares of CorMedix (NASDAQ:CRMD) in a report published on Wednesday morning, Benzinga reports. The firm currently has a $18.00 price objective on the stock.

Several other research firms also recently weighed in on CRMD. Royal Bank of Canada upped their price objective on shares of CorMedix from $6.00 to $10.00 and gave the stock an outperform rating in a report on Wednesday. JMP Securities reaffirmed a market outperform rating and issued a $19.00 price objective on shares of CorMedix in a report on Wednesday. Finally, Needham & Company LLC reduced their price objective on shares of CorMedix from $12.00 to $10.00 and set a buy rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $14.25.

CorMedix Stock Performance

CorMedix stock opened at $4.01 on Wednesday. The company has a 50-day simple moving average of $3.48 and a 200-day simple moving average of $4.15. The firm has a market capitalization of $219.79 million, a P/E ratio of -4.66 and a beta of 1.98. CorMedix has a one year low of $2.57 and a one year high of $6.09.

Insider Buying and Selling at CorMedix

In other CorMedix news, CEO Joseph Todisco purchased 10,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was bought at an average cost of $3.71 per share, with a total value of $37,100.00. Following the acquisition, the chief executive officer now owns 219,726 shares of the company’s stock, valued at $815,183.46. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CorMedix

Large investors have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new position in CorMedix in the first quarter worth approximately $38,000. Renaissance Technologies LLC acquired a new position in CorMedix in the third quarter worth approximately $38,000. Baystate Wealth Management LLC acquired a new position in CorMedix in the second quarter worth approximately $40,000. Burney Co. acquired a new position in CorMedix in the second quarter worth approximately $40,000. Finally, Ameriprise Financial Inc. acquired a new position in CorMedix in the third quarter worth approximately $40,000. Institutional investors and hedge funds own 35.03% of the company’s stock.

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 and internationally. Its lead product candidate is DefenCath and Neutrolin, a novel anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as hemodialysis, total parenteral nutrition, and oncology.