KORU Medical Systems (NASDAQ:KRMD) Price Target Raised to $3.00

KORU Medical Systems (NASDAQ:KRMD) had its price objective boosted by Piper Sandler from $2.50 to $3.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, B. Riley initiated coverage on shares of KORU Medical Systems in a research note on Thursday, July 25th. They issued a buy rating and a $4.00 price target for the company.

KORU Medical Systems Trading Up 2.4 %

Shares of KRMD stock traded up $0.06 during trading hours on Thursday, reaching $2.54. The company’s stock had a trading volume of 55,648 shares, compared to its average volume of 45,114. The company has a current ratio of 4.01, a quick ratio of 3.37 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $116.23 million, a P/E ratio of -9.07 and a beta of 0.40. The firm’s fifty day simple moving average is $2.44 and its 200 day simple moving average is $2.27. KORU Medical Systems has a one year low of $1.98 and a one year high of $3.12.

KORU Medical Systems (NASDAQ:KRMD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. KORU Medical Systems had a negative net margin of 45.24% and a negative return on equity of 25.10%. The business had revenue of $8.43 million for the quarter, compared to analysts’ expectations of $7.52 million. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Equities research analysts expect that KORU Medical Systems will post -0.16 EPS for the current year.

Institutional Trading of KORU Medical Systems

Hedge funds have recently modified their holdings of the business. Bard Associates Inc. increased its position in KORU Medical Systems by 22.5% during the 4th quarter. Bard Associates Inc. now owns 26,710 shares of the company’s stock valued at $66,000 after buying an additional 4,910 shares in the last quarter. Advisor Resource Council purchased a new stake in shares of KORU Medical Systems in the first quarter worth $63,000. Virtu Financial LLC bought a new position in shares of KORU Medical Systems during the first quarter valued at $63,000. Allspring Global Investments Holdings LLC purchased a new position in shares of KORU Medical Systems in the 2nd quarter worth about $28,000. Finally, Legato Capital Management LLC purchased a new position in shares of KORU Medical Systems in the 2nd quarter worth about $35,000. Institutional investors own 58.60% of the company’s stock.

About KORU Medical Systems

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria.