CorMedix (NASDAQ:CRMD) Issues Earnings Results, Beats Estimates By $0.05 EPS

CorMedix (NASDAQ:CRMD) issued its earnings results on Thursday. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05, FiscalAI reports. CorMedix had a return on equity of 45.57% and a net margin of 45.25%.The business had revenue of $101.93 million during the quarter, compared to analyst estimates of $96.04 million.

Here are the key takeaways from CorMedix’s conference call:

• Second-quarter revenue rose to $101.9 million, including $66.1 million from DefenCath and $35.8 million from the acquired Melinta portfolio; adjusted EBITDA increased to $58.7 million.
• CorMedix signed a multi-year DefenCath supply agreement with its fifth major U.S. dialysis provider. The LDO will begin a pilot involving several hundred clinics in the third quarter, with potential expansion in 2027.
• The company reaffirmed 2026 revenue guidance of $325 million to $345 million and raised adjusted EBITDA guidance to $125 million to $140 million, while noting that post-TDAPA ordering patterns remain an uncertainty.
• CorMedix expects Mundipharma to submit an sNDA for REZZAYO as prophylaxis against invasive fungal disease in the third quarter, potentially leading to FDA action in the first half of 2027 following positive Phase III results.
• DefenCath volumes have stabilized among larger dialysis providers but experienced some attrition among smaller accounts after TDAPA expiration; meaningful volume growth may depend on the new LDO pilot and Medicare Advantage contracting, which is not included in 2026 guidance.

CorMedix Stock Up 9.7%

CRMD stock traded up $0.69 during midday trading on Thursday, hitting $7.79. The company’s stock had a trading volume of 4,077,715 shares, compared to its average volume of 1,716,394. The firm has a market capitalization of $611.14 million, a P/E ratio of 3.68 and a beta of 1.50. The company has a quick ratio of 2.74, a current ratio of 2.97 and a debt-to-equity ratio of 0.33. CorMedix has a 52-week low of $6.13 and a 52-week high of $14.96. The firm has a 50-day simple moving average of $8.17 and a 200-day simple moving average of $7.64.

CorMedix News Summary

Here are the key news stories impacting CorMedix this week:

• Positive Sentiment: Q2 earnings and revenue topped expectations. CorMedix reported adjusted earnings of $0.29 per share, exceeding consensus estimates of $0.24–$0.26, while revenue reached $101.9 million versus analyst expectations of approximately $96.0 million. Net income was $26.0 million and adjusted EBITDA was $58.7 million. CorMedix Second Quarter 2026 Results
• Positive Sentiment: Management raised adjusted EBITDA guidance while maintaining its full-year revenue outlook, signaling continued operating strength and profitability. CorMedix expects 2026 revenue of $325 million to $345 million, a range whose midpoint is broadly in line with the $334.7 million analyst consensus. CorMedix Business Update
• Positive Sentiment: The pipeline may provide an additional growth catalyst. The CEO expects CorMedix to submit a supplemental filing by the third quarter for its fungal-disease treatment, potentially expanding the product’s commercial opportunity if regulators accept and approve the filing. CorMedix Fungal Disease Treatment Update
• Neutral Sentiment: Short-interest data provided no meaningful signal. Reported short interest was zero, with a zero-day days-to-cover ratio, limiting its usefulness as an explanation for the move or as evidence of short-covering demand.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. D. Boral Capital reiterated a “buy” rating and issued a $14.00 target price on shares of CorMedix in a research report on Monday, April 27th. Needham & Company LLC upped their price target on shares of CorMedix from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Weiss Ratings reissued a “hold (c)” rating on shares of CorMedix in a research note on Tuesday. Zacks Research raised shares of CorMedix from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Citizens Jmp restated a “market outperform” rating and set a $19.00 price target on shares of CorMedix in a research note on Tuesday, April 28th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.86.

Institutional Trading of CorMedix

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP lifted its position in CorMedix by 34.6% during the 3rd quarter. Marshall Wace LLP now owns 3,473,494 shares of the company’s stock worth $40,397,000 after acquiring an additional 893,518 shares during the period. Deerfield Management Company L.P. purchased a new position in CorMedix in the 3rd quarter valued at about $38,656,000. State Street Corp boosted its position in CorMedix by 4.6% during the fourth quarter. State Street Corp now owns 1,920,861 shares of the company’s stock worth $22,340,000 after acquiring an additional 85,240 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CorMedix by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 1,912,233 shares of the company’s stock worth $22,243,000 after purchasing an additional 102,461 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its holdings in CorMedix by 68.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,262,979 shares of the company’s stock valued at $14,688,000 after buying an additional 512,979 shares during the period. Institutional investors and hedge funds own 34.18% of the company’s stock.

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.