CorMedix (NASDAQ:CRMD) Issues Quarterly Earnings Results

CorMedix (NASDAQ:CRMD) issued its earnings results on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05, Briefing.com reports. The company had revenue of $30.00 million during the quarter, compared to analyst estimates of $27.46 million. The firm’s revenue was up 29900.0% on a year-over-year basis.

CorMedix Stock Down 31.8 %

NASDAQ:CRMD opened at $7.34 on Wednesday. The company has a market cap of $445.37 million, a price-to-earnings ratio of -9.06 and a beta of 1.53. CorMedix has a 52 week low of $3.61 and a 52 week high of $13.85. The company has a fifty day simple moving average of $10.76 and a two-hundred day simple moving average of $9.92.

Analyst Ratings Changes

A number of brokerages have commented on CRMD. Leerink Partners began coverage on shares of CorMedix in a research note on Friday, March 7th. They set an “outperform” rating and a $18.00 target price on the stock. D. Boral Capital reiterated a “buy” rating and issued a $15.00 price objective on shares of CorMedix in a research report on Tuesday. Leerink Partnrs raised CorMedix to a “strong-buy” rating in a research note on Friday, March 7th. Finally, Royal Bank of Canada upped their target price on shares of CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.