Key Points
- Director Alan Dunton sold 20,000 shares on December 30 at an average price of $13.00 for $260,000, cutting his stake by 33.2% to 40,250 shares — the trade was disclosed in an SEC filing.
- CorMedix posted a strong quarter, reporting $1.26 EPS versus a $0.48 estimate and $104.28M in revenue (vs. $65.63M expected), with revenue up 810.2% year-over-year and a net margin of 75.83%.
- The stock sits at about a $958M market cap with a PE of 5.90 and a 52-week range of $5.60–$17.43, while analysts have a consensus "Buy" rating and an average price target of $18.33.
CorMedix Inc (NASDAQ:CRMD - Get Free Report) Director Alan Dunton sold 20,000 shares of the company's stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $13.00, for a total transaction of $260,000.00. Following the sale, the director directly owned 40,250 shares in the company, valued at $523,250. This trade represents a 33.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
CorMedix Stock Up 4.6%
CorMedix stock opened at $12.16 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.94 and a quick ratio of 1.73. The company's 50-day moving average is $11.09 and its 200-day moving average is $11.77. The firm has a market capitalization of $958.09 million, a PE ratio of 5.90 and a beta of 1.36. CorMedix Inc has a fifty-two week low of $5.60 and a fifty-two week high of $17.43.
CorMedix (NASDAQ:CRMD - Get Free Report) last issued its earnings results on Wednesday, November 12th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.78. The business had revenue of $104.28 million during the quarter, compared to the consensus estimate of $65.63 million. CorMedix had a net margin of 75.83% and a return on equity of 51.77%. CorMedix's revenue was up 810.2% on a year-over-year basis. During the same period last year, the business posted ($0.05) EPS. Sell-side analysts anticipate that CorMedix Inc will post -0.32 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on CRMD shares. JMP Securities restated a "market outperform" rating and issued a $22.00 price target on shares of CorMedix in a research note on Tuesday, September 9th. Weiss Ratings reissued a "hold (c)" rating on shares of CorMedix in a research report on Wednesday, October 8th. Needham & Company LLC reduced their target price on shares of CorMedix from $20.00 to $16.00 and set a "buy" rating for the company in a report on Wednesday, November 12th. Zacks Research upgraded shares of CorMedix from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen cut shares of CorMedix from a "buy" rating to a "hold" rating in a report on Saturday, November 15th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $18.33.
Read Our Latest Research Report on CorMedix
Institutional Trading of CorMedix
A number of institutional investors have recently bought and sold shares of the business. Trexquant Investment LP increased its holdings in shares of CorMedix by 588.9% during the first quarter. Trexquant Investment LP now owns 135,487 shares of the company's stock worth $835,000 after purchasing an additional 115,819 shares during the period. Graham Capital Management L.P. bought a new stake in shares of CorMedix in the first quarter valued at approximately $648,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CorMedix by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,987 shares of the company's stock worth $222,000 after buying an additional 1,631 shares in the last quarter. Rhumbline Advisers increased its stake in CorMedix by 7.7% during the 1st quarter. Rhumbline Advisers now owns 81,565 shares of the company's stock worth $502,000 after acquiring an additional 5,818 shares during the period. Finally, Swedbank AB acquired a new position in CorMedix in the 1st quarter valued at $1,540,000. Institutional investors own 34.18% of the company's stock.
CorMedix Company Profile
(
Get Free Report)
CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company's lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.
In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.
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