Brokerages Set CorMedix Inc (NASDAQ:CRMD) Target Price at $15.00

CorMedix Inc (NASDAQ:CRMD) has received a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $15.00.

CRMD has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CorMedix in a research report on Tuesday, August 11th. Royal Bank Of Canada raised their target price on CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th.

CorMedix Trading Down 1.8%

Shares of CRMD opened at $7.82 on Tuesday. CorMedix has a 12-month low of $6.13 and a 12-month high of $13.30. The firm has a market capitalization of $609.49 million, a P/E ratio of 3.65 and a beta of 1.50. The firm has a 50-day moving average price of $8.05 and a 200 day moving average price of $7.74. The company has a current ratio of 2.56, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31.

CorMedix (NASDAQ:CRMD) last posted its earnings results on Thursday, August 13th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. CorMedix had a net margin of 40.49% and a return on equity of 40.52%. The company had revenue of $101.93 million for the quarter, compared to analyst estimates of $96.04 million. Sell-side analysts forecast that CorMedix will post 0.54 EPS for the current year.

Institutional Trading of CorMedix

Hedge funds and other institutional investors have recently modified their holdings of the business. WINTON GROUP Ltd raised its holdings in CorMedix by 69.7% in the 2nd quarter. WINTON GROUP Ltd now owns 65,061 shares of the company’s stock valued at $511,000 after buying an additional 26,723 shares during the period. HighTower Advisors LLC increased its position in shares of CorMedix by 8.2% during the second quarter. HighTower Advisors LLC now owns 32,655 shares of the company’s stock valued at $256,000 after acquiring an additional 2,476 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of CorMedix in the 2nd quarter valued at approximately $247,000. California State Teachers Retirement System lifted its holdings in shares of CorMedix by 739.2% in the 2nd quarter. California State Teachers Retirement System now owns 593,766 shares of the company’s stock worth $4,661,000 after acquiring an additional 523,015 shares during the last quarter. Finally, Headlands Technologies LLC lifted its holdings in shares of CorMedix by 63.0% in the 2nd quarter. Headlands Technologies LLC now owns 96,773 shares of the company’s stock worth $760,000 after acquiring an additional 37,401 shares during the last quarter. 34.18% of the stock is owned by institutional investors and hedge funds.

CorMedix Company Profile

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.