Lake Street Capital Issues Positive Forecast for KORU Medical Systems (NASDAQ:KRMD) Stock Price

KORU Medical Systems (NASDAQ:KRMD) had its price target increased by research analysts at Lake Street Capital from $4.00 to $5.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital’s target price would indicate a potential upside of 27.55% from the stock’s previous close.

A number of other analysts have also recently commented on KRMD. Craig Hallum upped their price target on KORU Medical Systems from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Canaccord Genuity Group increased their target price on shares of KORU Medical Systems from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Piper Sandler lifted their price target on shares of KORU Medical Systems from $3.00 to $3.50 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $4.30.

KORU Medical Systems Price Performance

KORU Medical Systems stock traded down $0.03 during trading hours on Tuesday, hitting $3.92. 28,141 shares of the stock were exchanged, compared to its average volume of 97,031. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 2.99. The stock has a market capitalization of $179.68 million, a P/E ratio of -15.68 and a beta of 0.45. KORU Medical Systems has a 12 month low of $1.98 and a 12 month high of $4.60. The business’s 50-day moving average is $3.72 and its two-hundred day moving average is $2.94.

Hedge Funds Weigh In On KORU Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of the business. XTX Topco Ltd acquired a new stake in KORU Medical Systems in the third quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in KORU Medical Systems in the second quarter valued at approximately $107,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in KORU Medical Systems by 77.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,412 shares of the company’s stock valued at $168,000 after purchasing an additional 26,860 shares in the last quarter. Empire Financial Management Company LLC bought a new stake in KORU Medical Systems in the 3rd quarter valued at about $259,000. Finally, Geode Capital Management LLC boosted its holdings in KORU Medical Systems by 6.5% in the third quarter. Geode Capital Management LLC now owns 462,128 shares of the company’s stock worth $1,262,000 after acquiring an additional 28,323 shares in the last quarter. Institutional investors own 58.60% of the company’s stock.

About KORU Medical Systems

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria.