H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Cormedix Inc (CRMD) today and set a price target of $3. The company’s shares closed on Friday at $1.82.
Selvaraju commented:
“We derive a value of $370M for Neutrolin using a 12% discount rate and 90% probability of success, along with a 23% effective tax rate, or a price per share of $3.00, including $100M from additional value drivers (ex-U.S.”
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -3.6% and a 38.7% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Currently, the analyst consensus on Cormedix Inc is a Moderate Buy with an average price target of $4.50.
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The company has a one-year high of $2.74 and a one-year low of $0.17. Currently, Cormedix Inc has an average volume of 2.81M.
Based on the recent corporate insider activity of 20 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.
