By otakuyassine3@gmail.com 
CorMedix (NASDAQ:CRMD – Free Report) had its target price lifted by Royal Bank of Canada from $11.00 to $12.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.
Several other equities analysts also recently issued reports on CRMD. Truist Financial upped their target price on CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC raised their price objective on CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com raised CorMedix to a “sell” rating in a report on Friday, November 8th. Finally, Rodman & Renshaw assumed coverage on CorMedix in a research report on Monday, August 26th. They issued a “buy” rating and a $13.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.80.
View Our Latest Stock Analysis on CRMD
CorMedix Price Performance
NASDAQ CRMD traded down $0.20 on Thursday, hitting $8.67. The stock had a trading volume of 96,596 shares, compared to its average volume of 744,611. CorMedix has a 52-week low of $2.89 and a 52-week high of $13.85. The business’s fifty day moving average price is $10.38 and its 200 day moving average price is $7.23. The stock has a market cap of $526.07 million, a price-to-earnings ratio of -10.70 and a beta of 1.54.
CorMedix (NASDAQ:CRMD – Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company earned ($0.17) earnings per share. As a group, sell-side analysts anticipate that CorMedix will post -0.46 EPS for the current year.
Insider Activity at CorMedix
In related news, EVP Elizabeth Hurlburt sold 140,027 shares of the firm’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 completion of the sale, the executive vice president now directly owns 45,397 shares of the company’s stock, valued at approximately $507,538.46. This trade represents a 75.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.20% of the company’s stock.
Institutional Trading of CorMedix
Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of CorMedix by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,284,464 shares of the company’s stock valued at $10,380,000 after buying an additional 13,171 shares during the period. State Street Corp lifted its stake in CorMedix by 0.8% in the third quarter. State Street Corp now owns 1,225,756 shares of the company’s stock worth $9,904,000 after acquiring an additional 10,204 shares during the last quarter. Wellington Management Group LLP grew its holdings 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 acquiring an additional 102,527 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of CorMedix by 19.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 158,901 shares of the company’s stock valued at $688,000 after purchasing an additional 25,677 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of CorMedix by 109.6% in the 2nd quarter. Marshall Wace LLP now owns 152,275 shares of the company’s stock valued at $659,000 after purchasing an additional 79,619 shares in the last quarter. Institutional investors and hedge funds own 34.18% of the company’s stock.
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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