CorMedix (NASDAQ:CRMD) Stock Rating Upgraded by StockNews.com

CorMedix (NASDAQ:CRMD) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

CRMD has been the subject of several other research reports. D. Boral Capital reissued a “buy” rating and issued a $15.00 price objective on shares of CorMedix in a research note on Tuesday, March 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 price objective on shares of CorMedix in a research note on Wednesday, March 26th. Needham & Company LLC cut their price objective on shares of CorMedix from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, March 26th. Leerink Partners assumed coverage on CorMedix in a research report on Friday, March 7th. They set an “outperform” rating and a $18.00 price objective on the stock. Finally, Leerink Partnrs upgraded CorMedix to a “strong-buy” rating in a report on Friday, March 7th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $15.14.

CorMedix Stock Performance

Shares of CorMedix stock traded down $0.16 on Tuesday, reaching $6.00. 657,987 shares of the company were exchanged, compared to its average volume of 990,928. CorMedix has a 1-year low of $3.61 and a 1-year high of $13.85. The firm has a market cap of $391.09 million, a price-to-earnings ratio of -7.41 and a beta of 1.53. The company’s 50-day moving average is $10.31 and its two-hundred day moving average is $9.93.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. The firm had revenue of $30.00 million for the quarter, compared to the consensus estimate of $27.46 million. The firm’s quarterly revenue was up 29900.0% on a year-over-year basis. As a group, sell-side analysts forecast that CorMedix will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On CorMedix

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in shares of CorMedix by 1.9% during the fourth quarter. Bank of America Corp DE now owns 60,115 shares of the company’s stock worth $487,000 after buying an additional 1,124 shares in the last quarter. FMR LLC raised its position in shares of CorMedix by 54.3% in the third quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after purchasing an additional 1,625 shares during the period. Nuveen Asset Management LLC grew its holdings in CorMedix by 1.0% in the 4th quarter. Nuveen Asset Management LLC now owns 171,978 shares of the company’s stock valued at $1,393,000 after buying an additional 1,679 shares in the last quarter. AlphaMark Advisors LLC increased its stake in CorMedix by 16.7% during the 4th quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company’s stock worth $113,000 after acquiring an additional 2,000 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in CorMedix by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company’s stock valued at $1,214,000 after buying an additional 3,221 shares in the last quarter. Hedge funds and other institutional investors 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.