CorMedix (NYSEAMERICAN:CRMD) Coverage Initiated by Analysts at Truist

Truist started coverage on shares of CorMedix (NYSEAMERICAN:CRMD) in a research note released on Monday, Briefing.com reports. The brokerage issued a buy rating and a $20.00 price target on the biotechnology company’s stock.

CRMD has been the topic of several other research reports. HC Wainwright reaffirmed a buy rating and issued a $10.00 price objective on shares of CorMedix in a research report on Tuesday, August 25th. Zacks Investment Research lowered shares of CorMedix from a buy rating to a hold rating in a research report on Friday, May 29th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $11.88.

CRMD opened at $5.23 on Monday. CorMedix has a fifty-two week low of $2.16 and a fifty-two week high of $7.97.

CorMedix (NYSEAMERICAN:CRMD) last released its quarterly earnings results on Monday, August 10th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The firm had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.10 million.

In related news, Director Myron Kaplan purchased 15,300 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was acquired at an average price of $4.27 per share, with a total value of $65,331.00. Following the purchase, the director now directly owns 150,034 shares in the company, valued at $640,645.18. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mehmood Khan purchased 27,913 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was bought at an average cost of $4.80 per share, with a total value of $133,982.40. Following the purchase, the director now owns 135,348 shares in the company, valued at $649,670.40. The disclosure for this purchase can be found here. In the last three months, insiders acquired 89,933 shares of company stock valued at $392,769.

Several institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC boosted its stake in shares of CorMedix by 10.6% in the 2nd quarter. Private Advisor Group LLC now owns 26,189 shares of the biotechnology company’s stock valued at $165,000 after purchasing an additional 2,520 shares in the last quarter. Riversedge Advisors LLC boosted its stake in shares of CorMedix by 23.8% in the 2nd quarter. Riversedge Advisors LLC now owns 14,259 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 2,739 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of CorMedix by 5.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 62,952 shares of the biotechnology company’s stock valued at $397,000 after purchasing an additional 3,060 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of CorMedix by 116.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,881 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 4,232 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of CorMedix by 7.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 80,010 shares of the biotechnology company’s stock valued at $504,000 after purchasing an additional 5,324 shares in the last quarter.

CorMedix Company Profile

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 and internationally. It primarily focuses on the development of its lead product candidate, Neutrolin, an anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as dialysis, critical/intensive care, and oncology.

Further Reading: Understanding Market Liquidity

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