Fintel reports that on August 26, 2024, Rodman & Renshaw initiated coverage of CorMedix (NasdaqGM:CRMD) with a Buy recommendation.
Analyst Price Forecast Suggests 103.35% Upside
As of August 26, 2024, the average one-year price target for CorMedix is $12.75/share. The forecasts range from a low of $9.09 to a high of $19.95. The average price target represents an increase of 103.35% from its latest reported closing price of $6.27 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for CorMedix is 13MM, an increase of 1,532.27%. The projected annual non-GAAP EPS is -0.87.
What is the Fund Sentiment?
There are 197 funds or institutions reporting positions in CorMedix. This is an increase of 14 owner(s) or 7.65% in the last quarter. Average portfolio weight of all funds dedicated to CRMD is 0.02%, an increase of 34.42%. Total shares owned by institutions increased in the last three months by 0.44% to 18,049K shares. 
The put/call ratio of CRMD is 0.30, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,725K shares representing 3.09% ownership of the company. In its prior filing, the firm reported owning 1,649K shares , representing an increase of 4.40%. The firm increased its portfolio allocation in CRMD by 7.54% over the last quarter.
Elliott Investment Management holds 1,551K shares representing 2.78% ownership of the company. No change in the last quarter.
Nomura Holdings holds 1,422K shares representing 2.55% ownership of the company. In its prior filing, the firm reported owning 2,951K shares , representing a decrease of 107.52%. The firm decreased its portfolio allocation in CRMD by 73.43% over the last quarter.
IWM - iShares Russell 2000 ETF holds 1,327K shares representing 2.38% ownership of the company. In its prior filing, the firm reported owning 1,433K shares , representing a decrease of 8.00%. The firm increased its portfolio allocation in CRMD by 7.53% over the last quarter.
Geode Capital Management holds 1,271K shares representing 2.28% ownership of the company. In its prior filing, the firm reported owning 1,183K shares , representing an increase of 6.93%. The firm increased its portfolio allocation in CRMD by 4.13% over the last quarter.
CorMedix Background Information
(This description is provided by the company.)
CorMedix Inc. is a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases. The Company is focused on developing its lead product Defencath™, a novel, antibacterial and antifungal solution designed to prevent costly and life-threatening bloodstream infections associated with the use of central venous catheters in patients undergoing chronic hemodialysis. Defencath has been designated by FDA as Fast Track and as a Qualified Infectious Disease Product, which provides an additional five years of marketing exclusivity, which will be added to the five years granted to a New Chemical Entity upon approval of the NDA. CorMedix also intends to develop Defencath as a catheter lock solution for use in oncology and total parenteral nutrition patients. It is leveraging its taurolidine technology to develop a pipeline of antimicrobial medical devices, with programs in surgical sutures and meshes, and topical hydrogels. The Company is also working with top-tier researchers to develop taurolidine-based therapies for rare pediatric cancers. Neutrolin™ is CE Marked and marketed in Europe and other territories as a medical device.
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