CorMedix Inc. [CRMD] stock Initiated by Needham analyst, price target now $31

CorMedix Inc. [NASDAQ: CRMD] loss -15.37% on the last trading session, reaching $7.93 price per share at the time. The company report on April 14, 2021 that CorMedix Has Meeting With FDA on DefenCath Catheter Lock Solution NDA.

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CorMedix Inc. (Nasdaq: 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 met with the US Food and Drug Administration (FDA) to discuss proposed resolutions for the deficiencies identified in the Complete Response Letter (CRL) to CorMedix and the Post-Application Action Letter received by the third-party manufacturer (CMO) from FDA for the New Drug Application (NDA) for DefenCath™ (taurolidine/heparin catheter lock solution). Representatives from both CorMedix and the CMO participated in the meeting with FDA to ensure that there is alignment on addressing the Agency’s concerns.

There is now an agreed upon protocol for the manual extraction study identified in the CRL that FDA is requiring as confirmation of in-process controls to demonstrate that the labeled volume can be consistently withdrawn from the vials. As anticipated previously, CorMedix expects to be able to complete this requirement in the next several weeks. Addressing FDA’s concerns regarding the qualification of the filling operation may necessitate adjustments in the process and generation of additional data on operating parameters for manufacture of DefenCath. CorMedix and the CMO are currently evaluating available data to determine if additional process qualification will be needed with subsequent validation to address these issues.

CorMedix Inc. represents 32.42 million in outstanding shares, while the company has a total market value of $311.01 million with the latest information. CRMD stock price has been found in the range of $7.851 to $9.46.

If compared to the average trading volume of 1.31M shares, CRMD reached a trading volume of 1891379 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]:

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 0.81, with the Price to Sales ratio for CRMD stock in the period of the last 12 months amounting to 1555.07. The Price to Book ratio for the last quarter was 5.83, with the Price to Cash per share for the same quarter was set at 1.18.

Trading performance analysis for CRMD stock

CorMedix Inc. [CRMD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.83. With this latest performance, CRMD shares dropped by -14.46% in over the last four-week period, additionally plugging by 33.95% over the last 6 months – not to mention a rise of 102.30% 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 36.65, with the RSI for the last a single of trading hit 29.77, and the three-weeks RSI is set at 40.51 for CorMedix Inc. [CRMD]. The present Moving Average for the last 50 days of trading for this stock 11.12, while it was recorded at 9.19 for the last single week of trading, and 7.48 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 -11378.44 and a Gross Margin at -45.61. CorMedix Inc.’s Net Margin is presently recorded at -9207.70.

Return on Total Capital for CRMD is now -79.01, given the latest momentum, and Return on Invested Capital for the company is -64.04. Return on Equity for this stock declined to -64.91, with Return on Assets sitting at -55.92. When it comes to the capital structure of this company, CorMedix Inc. [CRMD] has a Total Debt to Total Equity ratio set at 2.34. Additionally, CRMD Total Debt to Total Capital is recorded at 2.28, with Total Debt to Total Assets ending up at 2.09. Long-Term Debt to Equity for the company is recorded at 2.09, with the Long-Term Debt to Total Capital now at 2.04.

Reflecting on the efficiency of the workforce at the company, CorMedix Inc. [CRMD] managed to generate an average of -$629,362 per employee. Receivables Turnover for the company is 141.06 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 11.50 and a Current Ratio set at 11.60.

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 -0.23/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.70%. 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 $74 million, or 24.60% 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 1.20% of the total institutional ownership; ELLIOTT INVESTMENT MANAGEMENT L.P., holding 1,758,374 shares of the stock with an approximate value of $13.94 million in CRMD stocks shares; and VANGUARD GROUP INC, currently with $10.73 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 May and at the time of the May reporting period, where 41 institutional holders increased their position in CorMedix Inc. [NASDAQ:CRMD] by around 1,189,639 shares. Additionally, 20 investors decreased positions by around 255,555 shares, while 22 investors held positions by with 7,825,143 shares. The mentioned changes placed institutional holdings at 9,270,337 shares, according to the latest SEC report filing. CRMD stock had 12 new institutional investments in for a total of 378,266 shares, while 8 institutional investors sold positions of 221,209 shares during the same period.

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