KORU Medical Systems (NASDAQ:KRMD) Stock Price Expected to Rise, Craig Hallum Analyst Says

KORU Medical Systems (NASDAQ:KRMD) had its price target hoisted by analysts at Craig Hallum from $4.00 to $5.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s target price suggests a potential upside of 60.77% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group upped their price target on KORU Medical Systems from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler increased their target price on shares of KORU Medical Systems from $3.00 to $3.50 and gave the stock an “overweight” rating in a research note on Thursday. Finally, B. Riley started coverage on shares of KORU Medical Systems in a research report on Thursday, July 25th. They set a “buy” rating and a $4.00 price target for the company.

KORU Medical Systems Stock Performance

Shares of NASDAQ KRMD traded down $0.09 during mid-day trading on Thursday, hitting $3.11. The company had a trading volume of 49,535 shares, compared to its average volume of 114,533. The company has a current ratio of 3.77, a quick ratio of 3.27 and a debt-to-equity ratio of 0.01. KORU Medical Systems has a 1 year low of $1.98 and a 1 year high of $3.40. The company has a market capitalization of $142.59 million, a price-to-earnings ratio of -12.64 and a beta of 0.41. The stock’s 50-day moving average price is $2.64 and its 200-day moving average price is $2.46.

Hedge Funds Weigh In On KORU Medical Systems

A number of institutional investors have recently made changes to their positions in KRMD. Aaron Wealth Advisors LLC purchased a new stake in KORU Medical Systems during the second quarter valued at about $28,000. Allspring Global Investments Holdings LLC bought a new stake in KORU Medical Systems in the 2nd quarter worth approximately $28,000. Legato Capital Management LLC purchased a new stake in KORU Medical Systems in the second quarter worth approximately $35,000. Virtu Financial LLC purchased a new position in shares of KORU Medical Systems during the first quarter worth approximately $63,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of KORU Medical Systems in the 2nd quarter worth approximately $107,000. 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.