CorMedix (NASDAQ:CRMD) Issues Quarterly Earnings Results

CorMedix (NASDAQ:CRMD) posted its quarterly earnings results on Wednesday. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.05, RTT News reports. The business had revenue of $11.46 million during the quarter, compared to the consensus estimate of $11.00 million. During the same period in the prior year, the firm earned ($0.17) earnings per share.

CorMedix Price Performance

CRMD stock opened at $9.99 on Friday. CorMedix has a 1 year low of $2.57 and a 1 year high of $13.85. The company has a market cap of $577.02 million, a P/E ratio of -12.33 and a beta of 1.61. The firm has a 50-day moving average of $8.55 and a 200 day moving average of $6.14.

Analysts Set New Price Targets

Several analysts have weighed in on CRMD shares. StockNews.com raised shares of CorMedix to a “sell” rating in a research note on Saturday. Needham & Company LLC upped their price objective on shares of CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday. Rodman & Renshaw initiated coverage on shares of CorMedix in a research note on Monday, August 26th. They set a “buy” rating and a $13.00 price objective for the company. Truist Financial upped their price objective on shares of CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $9.00 price objective on shares of CorMedix in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.20.

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.