CorMedix (NASDAQ:CRMD) Shares Up 1.7% – What’s Next?

CorMedix Inc (NASDAQ:CRMD) shares traded up 1.7% on Monday . The company traded as high as $9.06 and last traded at $8.82. 1,956,347 shares changed hands during trading, an increase of 72% from the average daily volume of 1,138,212 shares. The stock had previously closed at $8.67.

Analyst Ratings Changes

A number of research firms have recently issued reports on CRMD. Zacks Research upgraded CorMedix from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Citizens Jmp reiterated a “market outperform” rating and set a $19.00 price objective on shares of CorMedix in a research report on Tuesday, April 28th. Leerink Partners increased their target price on CorMedix from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. D. Boral Capital reissued a “buy” rating and issued a $14.00 target price on shares of CorMedix in a research report on Monday, April 27th. Finally, Weiss Ratings raised shares of CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, CorMedix currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

CorMedix Stock Down 2.4%

The company has a 50-day moving average of $8.02 and a two-hundred day moving average of $8.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.97 and a quick ratio of 2.74. The company has a market capitalization of $658.21 million, a PE ratio of 3.94 and a beta of 1.46.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.08. CorMedix had a return on equity of 45.57% and a net margin of 45.25%.The business had revenue of $127.43 million during the quarter, compared to analysts’ expectations of $104.96 million. During the same quarter in the prior year, the business posted $0.30 earnings per share. The business’s quarterly revenue was up 226.1% on a year-over-year basis. Sell-side analysts anticipate that CorMedix Inc will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CorMedix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRMD. Pacer Advisors Inc. boosted its position in shares of CorMedix by 128.7% in the first quarter. Pacer Advisors Inc. now owns 580,620 shares of the company’s stock worth $3,942,000 after purchasing an additional 326,724 shares during the period. Segall Bryant & Hamill LLC raised its position in shares of CorMedix by 107.8% during the 1st quarter. Segall Bryant & Hamill LLC now owns 126,675 shares of the company’s stock valued at $860,000 after purchasing an additional 65,723 shares during the period. Bank of America Corp DE lifted its stake in shares of CorMedix by 10.9% during the 1st quarter. Bank of America Corp DE now owns 144,835 shares of the company’s stock valued at $983,000 after buying an additional 14,266 shares in the last quarter. Amundi purchased a new position in shares of CorMedix during the 1st quarter valued at $132,000. Finally, Empowered Funds LLC boosted its holdings in CorMedix by 102.1% in the 1st quarter. Empowered Funds LLC now owns 266,637 shares of the company’s stock worth $1,810,000 after buying an additional 134,733 shares during the period. Institutional investors own 34.18% of the company’s stock.

CorMedix Company Profile

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.