CorMedix (NASDAQ:CRMD) Shares Gap Up – Still a Buy?

CorMedix Inc. (NASDAQ:CRMDGet Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $9.49, but opened at $9.95. CorMedix shares last traded at $10.08, with a volume of 58,424 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRMD. StockNews.com upgraded shares of CorMedix to a “sell” rating in a report on Friday, November 8th. Royal Bank of Canada raised their price objective on shares of CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Leerink Partners initiated coverage on CorMedix in a research note on Friday. They issued an “outperform” rating and a $18.00 price target for the company. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of CorMedix in a report on Wednesday. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat, CorMedix currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Read Our Latest Stock Analysis on CorMedix

CorMedix Stock Up 7.5 %

The company has a market capitalization of $619.21 million, a PE ratio of -12.60 and a beta of 1.53. The stock’s 50 day moving average is $10.49 and its two-hundred day moving average is $9.44.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of CorMedix by 54.3% during the third quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after purchasing an additional 1,625 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of CorMedix in the fourth quarter worth $81,000. Captrust Financial Advisors purchased a new position in shares of CorMedix during the 4th quarter valued at about $90,000. Aigen Investment Management LP acquired a new position in CorMedix in the fourth quarter valued at approximately $94,000. Finally, XTX Topco Ltd purchased a new stake in CorMedix during the fourth quarter worth $95,000. 34.18% of the stock is owned by institutional investors.

CorMedix Company Profile

(Get Free Report)

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. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.

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