Saturday, March 6, 2021

CorMedix Inc. [CRMD] Stock trading around $16.25 per share: What’s Next?

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CorMedix Inc. [NASDAQ: CRMD] gained 13.32% or 1.91 points to close at $16.25 with a heavy trading volume of 2555057 shares. The company report on January 21, 2021 that CorMedix Inc. to Begin Trading on the Nasdaq Stock Exchange.

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CorMedix Inc. (NYSE American: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory disease, announced that it has been approved for listing on the Nasdaq Global Market. The company’s shares will continue to trade under its current symbol “CRMD”. Trading on the Nasdaq Global Market is expected to commence on Tuesday, February 2, 2021. The Company’s shares of common stock will continue to trade on the NYSE American until the close of the market on Monday, February 1, 2021.


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Khoso Baluch, CorMedix CEO commented, “We are excited to have Nasdaq as our new exchange partner. As a late stage biopharma company, we feel that Nasdaq is a natural fit and already includes many of our peers in the space. With the February 28, 2021 PDUFA date for completion of FDA’s review of the Defencath NDA on the horizon, the year ahead is likely to hold significant growth for CorMedix as we set our sights on becoming a commercial entity in the US. We believe this move will further enhance our visibility in the marketplace, expose our company to a larger audience of institutional investors and ultimately increase liquidity and shareholder value.”.

It opened the trading session at $15.116, the shares rose to $16.324 and dropped to $14.54, the range by which the price of stock traded the whole day. The daily chart for CRMD points out that the company has recorded 235.74% gains over the past six months. However, it is still -652.31% lower than its most recent low trading price.

If we look at the average trading volume of 750.95K shares, CRMD reached to a volume of 2555057 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about CorMedix Inc. [CRMD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRMD shares is $23.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRMD stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for CorMedix Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 17, 2021. While these analysts kept the previous recommendation, JMP Securities raised their target price to Mkt Outperform. The new note on the price target was released on September 29, 2020, representing the official price target for CorMedix Inc. stock. Previously, the target price had yet another raise to $20, while Truist analysts kept a Buy rating on CRMD stock.

The Average True Range (ATR) for CorMedix Inc. is set at 1.23, with the Price to Sales ratio for CRMD stock in the period of the last 12 months amounting to 2527.69. The Price to Book ratio for the last quarter was 14.01, with the Price to Cash per share for the same quarter was set at 1.19.

Trading performance analysis for CRMD stock

CorMedix Inc. [CRMD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.49. With this latest performance, CRMD shares gained by 80.76% in over the last four-week period, additionally plugging by 235.74% over the last 6 months – not to mention a rise of 150.77% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRMD stock in for the last two-week period is set at 74.25, with the RSI for the last a single of trading hit 75.90, and the three-weeks RSI is set at 73.07 for CorMedix Inc. [CRMD]. The present Moving Average for the last 50 days of trading for this stock 9.77, while it was recorded at 14.32 for the last single week of trading, and 6.52 for the last 200 days.

CorMedix Inc. [CRMD]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and CorMedix Inc. [CRMD] shares currently have an operating margin of -7416.31 and a Gross Margin at -57.63. CorMedix Inc.’s Net Margin is presently recorded at -5801.29.

Return on Total Capital for CRMD is now -121.05, given the latest momentum, and Return on Invested Capital for the company is -94.69. Return on Equity for this stock declined to -114.99, with Return on Assets sitting at -68.04. When it comes to the capital structure of this company, CorMedix Inc. [CRMD] has a Total Debt to Total Equity ratio set at 0.02. Additionally, CRMD Total Debt to Total Capital is recorded at 0.02, with Total Debt to Total Assets ending up at 0.01. Long-Term Debt to Equity for the company is recorded at 0.01, with the Long-Term Debt to Total Capital now at 0.01.

Reflecting on the efficiency of the workforce at the company, CorMedix Inc. [CRMD] managed to generate an average of -$547,769 per employee. Receivables Turnover for the company is 51.79 with a Total Asset Turnover recorded at a value of 0.01.CorMedix Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.40 and a Current Ratio set at 8.40.

CorMedix Inc. [CRMD]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, CorMedix Inc. posted -0.21/share EPS, while the average EPS was predicted by analysts to be reported at -0.24/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CRMD.

An analysis of insider ownership at CorMedix Inc. [CRMD]

There are presently around $150 million, or 27.00% of CRMD stock, in the hands of institutional investors. The top three institutional holders of CRMD stocks are: BLACKROCK INC. with ownership of 1,995,193, which is approximately 4.661% of the company’s market cap and around 1.90% of the total institutional ownership; ELLIOTT INVESTMENT MANAGEMENT L.P., holding 1,758,374 shares of the stock with an approximate value of $28.57 million in CRMD stocks shares; and VANGUARD GROUP INC, currently with $22.0 million in CRMD stock with ownership of nearly 4.879% of the company’s market capitalization.

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Positions in CorMedix Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 40 institutional holders increased their position in CorMedix Inc. [NASDAQ:CRMD] by around 1,155,409 shares. Additionally, 20 investors decreased positions by around 259,355 shares, while 22 investors held positions by with 7,821,543 shares. The mentioned changes placed institutional holdings at 9,236,307 shares, according to the latest SEC report filing. CRMD stock had 11 new institutional investments in for a total of 344,036 shares, while 8 institutional investors sold positions of 221,209 shares during the same period.

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