CorMedix (NASDAQ:CRMD – Get Free Report) posted its earnings results on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05, Briefing.com reports. The firm had revenue of $30.00 million during the quarter, compared to analyst estimates of $27.46 million. The company’s revenue was up 29900.0% on a year-over-year basis.
CorMedix Trading Down 2.5 %
Shares of CRMD stock opened at $7.16 on Thursday. CorMedix has a 12 month low of $3.61 and a 12 month high of $13.85. The firm has a market capitalization of $434.45 million, a price-to-earnings ratio of -8.84 and a beta of 1.53. The business’s 50-day moving average price is $10.66 and its 200-day moving average price is $9.90.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on CRMD shares. Leerink Partnrs raised CorMedix to a “strong-buy” rating in a report on Friday, March 7th. D. Boral Capital reissued a “buy” rating and set a $15.00 price objective on shares of CorMedix in a report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 target price on shares of CorMedix in a research report on Wednesday. Needham & Company LLC lowered their target price on CorMedix from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Leerink Partners started coverage on CorMedix in a research report on Friday, March 7th. They set an “outperform” rating and a $18.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.14.
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.
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