Needham lifts CorMedix Inc. [CRMD] price estimate. Who else is bullish?

CorMedix Inc. [NASDAQ: CRMD] price plunged by -19.97 percent to reach at -$1.51. The company report on May 14, 2021 that CorMedix Inc. Reports First Quarter 2021 Financial Results and Provides Business Update.

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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 financial results for the first quarter ended March 31, 2021 and provided an update on recent business events.

A sum of 3110167 shares traded at recent session while its average daily volume was at 1.02M shares. CorMedix Inc. shares reached a high of $6.13 and dropped to a low of $5.40 until finishing in the latest session at $6.05.

Guru’s Opinion on 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 0.69, with the Price to Sales ratio for CRMD stock in the period of the last 12 months amounting to 958.32. The Price to Book ratio for the last quarter was 2.74, with the Price to Cash per share for the same quarter was set at 1.71.

CRMD Stock Performance Analysis:

CorMedix Inc. [CRMD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -28.91. With this latest performance, CRMD shares dropped by -20.92% in over the last four-week period, additionally plugging by 5.58% over the last 6 months – not to mention a rise of 60.05% 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 27.17, with the RSI for the last a single of trading hit 19.58, and the three-weeks RSI is set at 32.91 for CorMedix Inc. [CRMD]. The present Moving Average for the last 50 days of trading for this stock 8.65, while it was recorded at 7.57 for the last single week of trading, and 7.73 for the last 200 days.

Insight into CorMedix Inc. Fundamentals:

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 27.20 and a Current Ratio set at 27.20.

CRMD Stock EPS

With the latest financial reports released by the company, CorMedix Inc. posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.14/share. 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.

CorMedix Inc. [CRMD] Insider Position Details

There are presently around $64 million, or 23.80% of CRMD stock, in the hands of institutional investors. The top three institutional holders of CRMD stocks are: BLACKROCK INC. with ownership of 2,253,294, which is approximately 12.936% 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 $10.64 million in CRMD stocks shares; and VANGUARD GROUP INC, currently with $9.57 million in CRMD stock with ownership of nearly 16.915% 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 44 institutional holders increased their position in CorMedix Inc. [NASDAQ:CRMD] by around 2,270,112 shares. Additionally, 26 investors decreased positions by around 517,914 shares, while 16 investors held positions by with 7,822,114 shares. The mentioned changes placed institutional holdings at 10,610,140 shares, according to the latest SEC report filing. CRMD stock had 14 new institutional investments in for a total of 955,354 shares, while 10 institutional investors sold positions of 384,456 shares during the same period.

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