CorMedix (NASDAQ:CRMD) Given New $12.00 Price Target at Truist Financial

CorMedix (NASDAQ:CRMD) had its price objective cut by Truist Financial from $14.00 to $12.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

CRMD has been the subject of several other reports. JMP Securities reiterated a market outperform rating and set a $19.00 price objective on shares of CorMedix in a research report on Tuesday, April 9th. Needham & Company LLC reissued a buy rating and set a $10.00 target price on shares of CorMedix in a report on Wednesday, June 19th.

CorMedix Trading Down 3.6 %

Shares of NASDAQ CRMD opened at $4.54 on Thursday. The stock has a 50 day simple moving average of $4.74 and a 200-day simple moving average of $4.35. The company has a market cap of $249.52 million, a PE ratio of -4.88 and a beta of 1.60. CorMedix has a 12-month low of $2.57 and a 12-month high of $7.00.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.02. Sell-side analysts forecast that CorMedix will post -0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CorMedix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in CorMedix by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock worth $63,000 after purchasing an additional 2,562 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of CorMedix by 3.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 138,008 shares of the company’s stock valued at $519,000 after buying an additional 4,195 shares in the last quarter. Advisor OS LLC increased its holdings in shares of CorMedix by 20.0% in the fourth quarter. Advisor OS LLC now owns 30,000 shares of the company’s stock valued at $113,000 after buying an additional 5,000 shares in the last quarter. Raymond James & Associates increased its holdings in shares of CorMedix by 15.7% in the fourth quarter. Raymond James & Associates now owns 42,827 shares of the company’s stock valued at $161,000 after buying an additional 5,800 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of CorMedix by 14.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 81,834 shares of the company’s stock valued at $308,000 after buying an additional 10,362 shares in the last quarter. Institutional investors 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.