CorMedix (NASDAQ:CRMD) Posts Quarterly Earnings Results

CorMedix (NASDAQ:CRMD) released its earnings results on Wednesday. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.01, Zacks reports. The firm had revenue of $0.81 million during the quarter, compared to analysts’ expectations of $0.75 million. During the same period last year, the business earned ($0.25) earnings per share.

CorMedix Stock Performance

Shares of CorMedix stock traded down $0.12 during midday trading on Thursday, reaching $4.80. 911,898 shares of the company’s stock traded hands, compared to its average volume of 552,597. CorMedix has a 52 week low of $2.57 and a 52 week high of $7.00. The company’s 50 day simple moving average is $4.48 and its 200 day simple moving average is $4.43. The company has a market cap of $263.53 million, a price-to-earnings ratio of -5.15 and a beta of 1.60.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CRMD shares. Truist Financial lowered their price objective on shares of CorMedix from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of CorMedix in a research note on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $9.00 price objective on shares of CorMedix in a report on Thursday.

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.