CorMedix (NASDAQ:CRMD) Rating Reiterated by JMP Securities

JMP Securities reissued their market outperform rating on shares of CorMedix (NASDAQ:CRMD) in a research note published on Tuesday, Benzinga reports. JMP Securities currently has a $19.00 target price on the stock.

A number of other research firms have also issued reports on CRMD. Truist Financial reduced their price target on shares of CorMedix from $18.00 to $14.00 and set a buy rating for the company in a research report on Wednesday, January 31st. Royal Bank of Canada reduced their price target on shares of CorMedix from $10.00 to $9.00 and set an outperform rating for the company in a research report on Wednesday, March 13th. Finally, Needham & Company LLC reissued a buy rating and set a $10.00 price target on shares of CorMedix in a research report on Tuesday.

CorMedix Stock Down 8.6 %

Shares of CorMedix stock opened at $5.84 on Tuesday. The firm has a market capitalization of $320.09 million, a P/E ratio of -6.35 and a beta of 1.86. The company has a 50 day moving average price of $3.76 and a 200 day moving average price of $3.55. CorMedix has a 52 week low of $2.57 and a 52 week high of $7.00.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.05). As a group, research analysts anticipate that CorMedix will post -0.83 earnings per share for the current fiscal year.

Insider Transactions at CorMedix

In other news, CEO Joseph Todisco acquired 13,561 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average price of $3.74 per share, with a total value of $50,718.14. Following the purchase, the chief executive officer now directly owns 352,839 shares of the company’s stock, valued at $1,319,617.86. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On CorMedix

Hedge funds and other institutional investors have recently made changes to their positions in the company. MJP Associates Inc. ADV acquired a new stake in CorMedix in the 4th quarter valued at $94,000. Bank of New York Mellon Corp grew its stake in CorMedix by 16.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 151,566 shares of the company’s stock valued at $561,000 after acquiring an additional 21,185 shares during the period. GSG Advisors LLC grew its stake in CorMedix by 65.0% in the 4th quarter. GSG Advisors LLC now owns 49,500 shares of the company’s stock valued at $177,000 after acquiring an additional 19,500 shares during the period. Baystate Wealth Management LLC acquired a new stake in CorMedix in the 2nd quarter valued at $40,000. Finally, Steward Partners Investment Advisory LLC grew its stake in CorMedix by 3.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 138,008 shares of the company’s stock valued at $519,000 after acquiring an additional 4,195 shares during the period. Institutional investors and hedge funds own 34.18% of the company’s stock.

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. 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.