B.Riley FBR Sticks to Their Buy Rating for Cormedix (CRMD)

In a report released today, Andrew D’silva from B.Riley FBR maintained a Buy rating on Cormedix (CRMDResearch Report), with a price target of $12.00. The company’s shares opened today at $6.15.

According to TipRanks.com, D’silva is a 4-star analyst with an average return of 8.6% and a 43.1% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cumberland Pharmaceuticals, EyePoint Pharmaceuticals, and Eton Pharmaceuticals.

Currently, the analyst consensus on Cormedix is a Moderate Buy with an average price target of $13.00, implying an 113.1% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $14.00 price target.

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Based on Cormedix’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $74.05K and GAAP net loss of $5.56 million. In comparison, last year the company earned revenue of $163.7K and had a GAAP net loss of $5.17 million.

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRMD in relation to earlier this year.

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CorMedix, Inc. operates as a pharmaceutical and medical device company, which seeks to in-license, develop and commercialize prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases. The firm is developing its product Neutrolin, a novel, non-antibiotic antimicrobial solution designed to prevent costly and dangerous bloodstream infections associated with the use of central venous catheters. The company was founded by Antony E. Pfaffle in 2006 and is headquartered in Berkeley Heights, NJ.