CorMedix (NASDAQ:CRMD) Stock Price Up 6.9% - Time to Buy?

CorMedix Inc. (NASDAQ:CRMD - Get Free Report)'s share price traded up 6.9% during mid-day trading on Thursday . The stock traded as high as $13.32 and last traded at $13.23. 1,565,066 shares were traded during trading, an increase of 33% from the average session volume of 1,179,993 shares. The stock had previously closed at $12.38.Wall Street Analyst Weigh InCRMD has been the subject of several recent research reports. Wall Street Zen raised CorMedix from a "sell" rating to a "hold" rating in a research note on Tuesday, April 1st. D. Boral Capital reaffirmed a "buy" rating and issued a $15.00 price objective on shares of CorMedix in a research note on Tuesday, May 6th. Royal Bank of Canada reissued an "outperform" rating and set a $12.00 target price on shares of CorMedix in a research report on Wednesday, March 26th. Leerink Partnrs raised CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. Finally, Needham & Company LLC increased their price objective on CorMedix from $12.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $15.00.View Our Latest Stock Report on CorMedixCorMedix Stock Up 6.5%The business has a 50-day moving average of $9.52 and a two-hundred day moving average of $9.88. The firm has a market capitalization of $893.93 million, a price-to-earnings ratio of -16.27 and a beta of 1.54. CorMedix (NASDAQ:CRMD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. The firm had revenue of $39.08 million during the quarter, compared to the consensus estimate of $38.90 million. During the same period last year, the business earned ($0.25) earnings per share. Equities analysts predict that CorMedix Inc. will post -0.32 EPS for the current fiscal year. Institutional Inflows and OutflowsA number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. raised its holdings in shares of CorMedix by 699.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 8,685 shares of the company's stock worth $54,000 after buying an additional 7,599 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of CorMedix during the fourth quarter valued at $81,000. Essex Financial Services Inc. bought a new stake in shares of CorMedix in the 1st quarter worth about $63,000. EntryPoint Capital LLC acquired a new stake in shares of CorMedix during the 1st quarter worth about $66,000. Finally, Captrust Financial Advisors bought a new position in CorMedix during the 4th quarter valued at about $90,000. Institutional investors own 34.18% of the company's stock. About CorMedix (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.Featured StoriesFive stocks we like better than CorMedixWhat is a Bond Market Holiday? How to Invest and TradeIs Meta Plotting a Stablecoin Comeback Years After Libra's Flop?Why Invest in High-Yield Dividend Stocks?Silver's Options Sizzle: Are Traders Betting on a Breakout?A Deeper Look at Bid-Ask SpreadsAT&T: Is This Telecom Giant a Buy or a Bye for Your Portfolio?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in CorMedix Right Now?Before you consider CorMedix, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CorMedix wasn't on the list.While CorMedix currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here