CorMedix (NASDAQ:CRMD) Now Covered by Analysts at D. Boral Capital

D. Boral Capital began coverage on shares of CorMedix (NASDAQ:CRMD) in a research note issued to investors on Monday morning, Marketbeat reports. The firm issued a buy rating and a $15.00 price objective on the stock.

CRMD has been the subject of several other research reports. StockNews.com upgraded shares of CorMedix to a “sell” rating in a research report on Friday, November 8th. Needham & Company LLC increased their price objective on shares of CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Truist Financial raised their price target 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. Finally, Royal Bank of Canada lifted their price target on shares of CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.

CorMedix Stock Performance

Shares of NASDAQ CRMD opened at $11.12 on Monday. The firm has a market capitalization of $674.73 million, a price-to-earnings ratio of -13.73 and a beta of 1.56. CorMedix has a 52-week low of $2.89 and a 52-week high of $13.85. The stock has a 50 day moving average price of $9.65 and a 200 day moving average price of $7.78.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 previous year, the company posted ($0.17) earnings per share. Analysts forecast that CorMedix will post -0.46 earnings per share for the current year.

Insider Activity at CorMedix

In other CorMedix news, EVP Elizabeth Hurlburt sold 140,027 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $11.18, for a total value of $1,565,501.86. Following the sale, the executive vice president now owns 45,397 shares of the company’s stock, valued at $507,538.46. The trade was a 75.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CRMD. JPMorgan Chase & Co. increased its stake in CorMedix by 685.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 194,108 shares of the company’s stock worth $1,568,000 after purchasing an additional 169,397 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of CorMedix by 130.7% during the third quarter. Wellington Management Group LLP now owns 180,948 shares of the company’s stock worth $1,462,000 after buying an additional 102,527 shares in the last quarter. Parallax Volatility Advisers L.P. acquired a new position in CorMedix in the third quarter valued at about $648,000. Marshall Wace LLP raised its stake in CorMedix by 109.6% in the second 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. Finally, Commonwealth Equity Services LLC grew its position in CorMedix by 150.7% in the second quarter. Commonwealth Equity Services LLC now owns 94,752 shares of the company’s stock valued at $410,000 after acquiring an additional 56,963 shares during the last quarter. 34.18% of the stock is currently owned by institutional investors and hedge funds.

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.