CorMedix (NASDAQ:CRMD) Receives Buy Rating from D. Boral Capital

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

CRMD has been the subject of a number of other reports. Leerink Partners assumed coverage on shares of CorMedix in a research note on Friday, March 7th. They set an “outperform” rating and a $18.00 target price for the company. Leerink Partnrs raised CorMedix to a “strong-buy” rating in a report on Friday, March 7th. Finally, Royal Bank of Canada increased their target price on CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CorMedix has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

CorMedix Trading Down 31.8 %

CRMD stock opened at $7.34 on Tuesday. The stock’s 50 day simple moving average is $10.76 and its 200 day simple moving average is $9.92. CorMedix has a 12-month low of $3.61 and a 12-month high of $13.85. The stock has a market capitalization of $445.37 million, a PE ratio of -9.06 and a beta of 1.53.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The business 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% compared to the same quarter last year. On average, research analysts predict that CorMedix will post -0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CRMD. Intech Investment Management LLC purchased a new stake in shares of CorMedix in the third quarter worth $119,000. FMR LLC increased its stake in 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 in the last quarter. BNP Paribas Financial Markets raised its holdings in CorMedix by 130.3% during the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock valued at $97,000 after acquiring an additional 6,761 shares during the period. Parallax Volatility Advisers L.P. bought a new stake in CorMedix during the third quarter valued at about $648,000. Finally, State Street Corp lifted its position in shares of CorMedix by 0.8% in the third quarter. State Street Corp now owns 1,225,756 shares of the company’s stock valued at $9,904,000 after acquiring an additional 10,204 shares in the last quarter. 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.