CorMedix (NASDAQ:CRMD – Get Free Report)‘s stock had its “buy” rating reiterated by analysts at D. Boral Capital in a research note issued on Wednesday,Benzinga reports. They currently have a $15.00 price target on the stock. D. Boral Capital’s target price would suggest a potential upside of 21.95% from the company’s current price.
CRMD has been the topic of a number of other research reports. Truist Financial lifted their price target on CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Needham & Company LLC boosted their target price on CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada boosted their price target on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, StockNews.com upgraded CorMedix to a “sell” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.67.
Read Our Latest Research Report on CRMD
CorMedix Price Performance
CorMedix (NASDAQ:CRMD – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. The business had revenue of $11.46 million for the quarter, compared to analyst estimates of $11.00 million. During the same quarter last year, the business earned ($0.17) EPS. Sell-side analysts expect that CorMedix will post -0.32 earnings per share for the current fiscal year.
Insider Transactions at CorMedix
In other news, EVP Elizabeth Hurlburt sold 140,027 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $11.18, for a total transaction of $1,565,501.86. Following the sale, the executive vice president now directly owns 45,397 shares in the company, valued at approximately $507,538.46. The trade was a 75.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.20% of the company’s stock.
Institutional Investors Weigh In On CorMedix
Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of CorMedix by 685.5% during the third quarter. JPMorgan Chase & Co. now owns 194,108 shares of the company’s stock valued at $1,568,000 after purchasing an additional 169,397 shares during the period. Wellington Management Group LLP raised its stake in CorMedix by 130.7% during the 3rd quarter. Wellington Management Group LLP now owns 180,948 shares of the company’s stock worth $1,462,000 after buying an additional 102,527 shares during the period. Parallax Volatility Advisers L.P. bought a new position in CorMedix in the third quarter worth approximately $648,000. Marshall Wace LLP increased its holdings in shares of CorMedix by 109.6% during the second quarter. Marshall Wace LLP now owns 152,275 shares of the company’s stock valued at $659,000 after acquiring an additional 79,619 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in CorMedix during the second quarter worth $138,000. 34.18% of the stock is currently owned by institutional investors and hedge funds.
CorMedix Company Profile
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.
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