CorMedix (NASDAQ:CRMD) Given “Buy” Rating at D. Boral Capital

CorMedix (NASDAQ:CRMD)‘s stock had its “buy” rating reissued by research analysts at D. Boral Capital in a research note issued to investors on Thursday,Benzinga reports. They presently have a $14.00 price objective on the stock. D. Boral Capital’s price objective would indicate a potential upside of 17.26% from the stock’s current price.

A number of other analysts also recently issued reports on CRMD. Royal Bank Of Canada reissued an “outperform” rating and issued a $22.00 price objective (up previously from $21.00) on shares of CorMedix in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of CorMedix in a research report on Wednesday, October 8th. Wall Street Zen downgraded CorMedix from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. HC Wainwright lifted their price objective on CorMedix from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Finally, Zacks Research raised CorMedix from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $18.33.

CorMedix Stock Up 4.3%

Shares of CorMedix stock traded up $0.49 during trading hours on Thursday, reaching $11.94. 2,043,179 shares of the company’s stock were exchanged, compared to its average volume of 2,374,615. CorMedix has a fifty-two week low of $5.60 and a fifty-two week high of $17.43. The stock has a market cap of $940.67 million, a P/E ratio of 5.78 and a beta of 1.32. The company has a current ratio of 1.94, a quick ratio of 1.73 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $10.80 and a two-hundred day moving average of $11.90.

CorMedix (NASDAQ:CRMD) last issued its earnings results on Wednesday, November 12th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.78. CorMedix had a net margin of 75.83% and a return on equity of 51.77%. The business had revenue of $104.28 million for the quarter, compared to the consensus estimate of $65.63 million. During the same period in the previous year, the company earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 810.2% on a year-over-year basis. On average, sell-side analysts forecast that CorMedix will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Myron Kaplan acquired 25,000 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The stock was purchased at an average price of $11.02 per share, for a total transaction of $275,500.00. Following the completion of the acquisition, the director directly owned 201,034 shares in the company, valued at $2,215,394.68. The trade was a 14.20% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven W. Lefkowitz sold 40,000 shares of CorMedix stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $11.88, for a total transaction of $475,200.00. Following the completion of the sale, the director directly owned 80,498 shares of the company’s stock, valued at approximately $956,316.24. The trade was a 33.20% decrease in their position. The SEC filing for this sale provides additional information. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CorMedix

A number of hedge funds and other institutional investors have recently modified their holdings of CRMD. Comerica Bank boosted its stake in CorMedix by 454.6% in the 3rd quarter. Comerica Bank now owns 2,690 shares of the company’s stock worth $31,000 after purchasing an additional 2,205 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of CorMedix in the second quarter worth about $42,000. Caitong International Asset Management Co. Ltd boosted its position in shares of CorMedix by 666.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 4,385 shares of the company’s stock valued at $51,000 after acquiring an additional 3,813 shares during the period. State of Alaska Department of Revenue bought a new position in shares of CorMedix in the third quarter valued at approximately $54,000. Finally, USA Financial Formulas purchased a new position in CorMedix during the second quarter valued at approximately $55,000. Hedge funds and other 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.