CorMedix’s (CRMD) Buy Rating Reaffirmed at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of CorMedix (NASDAQ:CRMD) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $15.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada boosted their target price on shares of CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Truist Financial boosted their price objective on shares of CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. StockNews.com raised CorMedix to a “sell” rating in a report on Friday, November 8th. Finally, Needham & Company LLC boosted their price target on CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.67.

CorMedix Trading Up 1.0 %

Shares of CRMD stock opened at $12.42 on Wednesday. The stock has a market cap of $753.65 million, a P/E ratio of -15.33 and a beta of 1.56. CorMedix has a 1 year low of $2.89 and a 1 year high of $13.85. The stock has a 50 day simple moving average of $9.86 and a 200 day simple moving average of $8.23.

CorMedix (NASDAQ:CRMD) last released its earnings results 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 company had revenue of $11.46 million for the quarter, compared to the consensus estimate of $11.00 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. Analysts forecast that CorMedix will post -0.32 EPS for the current year.

Insider Activity

In other news, EVP Elizabeth Hurlburt sold 140,027 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $11.18, for a total value of $1,565,501.86. Following the completion of the transaction, the executive vice president now owns 45,397 shares of the company’s stock, valued at $507,538.46. This represents a 75.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CorMedix

Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in shares of CorMedix by 18.0% during the second quarter. Rhumbline Advisers now owns 74,239 shares of the company’s stock worth $321,000 after purchasing an additional 11,339 shares during the period. Marshall Wace LLP raised its position in CorMedix by 109.6% during the 2nd quarter. Marshall Wace LLP now owns 152,275 shares of the company’s stock worth $659,000 after purchasing an additional 79,619 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in CorMedix by 13.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock worth $100,000 after buying an additional 2,700 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of CorMedix in the 2nd quarter valued at about $138,000. Finally, SG Americas Securities LLC acquired a new stake in shares of CorMedix in the third quarter valued at about $152,000. 34.18% of the stock is owned by institutional investors.

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.