CorMedix (CRMD) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of CorMedix (NYSEAMERICAN:CRMD) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

According to Zacks, “CorMedix Inc. is a development-stage pharmaceutical company that seeks to in-license, develop and commercialize therapeutic products for the treatment of cardiac and renal dysfunction, also known as cardiorenal disease. CorMedix’s goal is to treat kidney disease by reducing the commonly associated cardiovascular and metabolic complications. The Company’s therapeutic candidates for cardiorenal disease may be small molecules, biologicals, devices and/or diagnostics (tests) that enable therapy. Its product pipeline includes: CRMD001, a unique formulation Deferiprone which is in development to prevent Contrast-Induced Acute Kidney Injury and to slow progression of Chronic Kidney Disease; CRMD002, a diagnostic test for urinary labile iron; CRMD003 (Neutrolin®, an antimicrobial/anticoagulant solution) is in development to prevent Catheter Related Bloodstream Infection; CRMD004, a pressure sensitive gel which has many uses, including extending the benefits of Neutrolin®. CorMedix Inc. is based in Summit, New Jersey. “

Separately, HC Wainwright set a $2.00 price target on shares of CorMedix and gave the stock a buy rating in a report on Wednesday, May 23rd.

Shares of CorMedix opened at $0.25 on Monday, MarketBeat reports. CorMedix has a 52-week low of $0.17 and a 52-week high of $0.77.

CorMedix (NYSEAMERICAN:CRMD) last issued its quarterly earnings data on Tuesday, May 15th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.04). The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.12 million. CorMedix had a negative net margin of 16,300.49% and a negative return on equity of 318.95%.

A hedge fund recently raised its stake in CorMedix stock. Virtu Financial LLC grew its position in CorMedix Inc. (NYSEAMERICAN:CRMD) by 126.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 226,748 shares of the biotechnology company’s stock after acquiring an additional 126,610 shares during the period. Virtu Financial LLC owned about 0.34% of CorMedix worth $114,000 at the end of the most recent quarter.

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 and internationally. Its primary focus is on the development of its lead product candidate, Neutrolin, an anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as dialysis, critical/intensive care, and oncology.

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