D. Boral Capital Reaffirms “Buy” Rating for CorMedix (NASDAQ:CRMD)

D. Boral Capital reissued their buy rating on shares of CorMedix (NASDAQ:CRMD) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $15.00 price objective on the stock.

CRMD has been the topic of several other research reports. Leerink Partners initiated coverage on CorMedix in a research report on Friday, March 7th. They set an “outperform” rating and a $18.00 target price on the stock. Royal Bank of Canada increased their price target on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Leerink Partnrs raised shares of CorMedix to a “strong-buy” rating in a research report on Friday, March 7th. One 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.14.

CorMedix Stock Performance

Shares of NASDAQ CRMD opened at $6.71 on Tuesday. The company’s 50 day moving average price is $10.54 and its 200-day moving average price is $9.88. CorMedix has a 52-week low of $3.61 and a 52-week high of $13.85. The company has a market capitalization of $407.14 million, a P/E ratio of -8.28 and a beta of 1.53.

CorMedix (NASDAQ:CRMD) last released its earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $30.00 million during the quarter, compared to analyst estimates of $27.46 million. The business’s revenue for the quarter was up 29900.0% compared to the same quarter last year. Analysts forecast that CorMedix will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On CorMedix

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its holdings in shares of CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after purchasing an additional 1,625 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of CorMedix in the fourth quarter valued at $81,000. Captrust Financial Advisors acquired a new position in shares of CorMedix during the fourth quarter valued at about $90,000. Aigen Investment Management LP acquired a new position in shares of CorMedix during the fourth quarter valued at about $94,000. Finally, XTX Topco Ltd bought a new stake in shares of CorMedix during the fourth quarter worth about $95,000. 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.