CorMedix (NASDAQ:CRMD – Get Free Report) had its price objective increased by analysts at Needham & Company LLC from $10.00 to $18.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 79.10% from the stock’s previous close.
A number of other research analysts also recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $9.00 price objective on shares of CorMedix in a research report on Thursday, August 15th. Truist Financial boosted their price target on shares of CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Rodman & Renshaw initiated coverage on CorMedix in a research note on Monday, August 26th. They issued a “buy” rating and a $13.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $15.20.
Get Our Latest Stock Analysis on CRMD
CorMedix Stock Performance
CorMedix (NASDAQ:CRMD – Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.05. During the same period last year, the firm posted ($0.17) earnings per share. Equities analysts forecast that CorMedix will post -0.58 earnings per share for the current fiscal year.
Institutional Investors Weigh In On CorMedix
Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of CorMedix by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,928,186 shares of the company’s stock valued at $12,416,000 after acquiring an additional 102,851 shares during the last quarter. Marshall Wace LLP grew its position in shares of CorMedix by 109.6% in the second quarter. Marshall Wace LLP now owns 152,275 shares of the company’s stock valued at $659,000 after purchasing an additional 79,619 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of CorMedix by 150.7% in the second quarter. Commonwealth Equity Services LLC now owns 94,752 shares of the company’s stock worth $410,000 after purchasing an additional 56,963 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of CorMedix during the 2nd quarter worth about $138,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of CorMedix by 19.3% during the second quarter. Bank of New York Mellon Corp now owns 158,901 shares of the company’s stock worth $688,000 after buying an additional 25,677 shares during the last quarter. 34.18% of the stock is currently owned by institutional investors.
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.
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