D. Boral Capital Reiterates Buy Rating for CorMedix (NASDAQ:CRMD)

CorMedix (NASDAQ:CRMD)‘s stock had its “buy” rating reissued by stock analysts at D. Boral Capital in a note issued to investors on Wednesday,Benzinga reports. They presently have a $15.00 price objective on the stock. D. Boral Capital’s price target would indicate a potential upside of 58.06% from the company’s previous close.

A number of other research firms also recently weighed in on CRMD. Royal Bank of Canada raised their price target on shares of CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. StockNews.com raised shares of CorMedix to a “sell” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.67.

CorMedix Price Performance

Shares of CRMD stock opened at $9.49 on Wednesday. The company’s fifty day moving average price is $10.49 and its two-hundred day moving average price is $9.44. The firm has a market capitalization of $575.82 million, a P/E ratio of -11.72 and a beta of 1.57. CorMedix has a 12 month low of $3.03 and a 12 month high of $13.85.

Hedge Funds Weigh In On CorMedix

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after buying an additional 1,625 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in CorMedix during the fourth quarter worth about $81,000. Captrust Financial Advisors bought a new position in CorMedix in the fourth quarter worth about $90,000. Aigen Investment Management LP acquired a new position in CorMedix in the fourth quarter valued at approximately $94,000. Finally, XTX Topco Ltd bought a new position in shares of CorMedix during the fourth quarter valued at approximately $95,000. Institutional investors and hedge funds own 34.18% of the company’s stock.

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.