In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Cormedix Inc (CRMD), with a price target of $3.50. The company’s shares closed yesterday at $1.60.
Selvaraju noted:
“We derive a value of $470M 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 $3.50, taking into account $150M from additional value drivers (ex-U.S.”
According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -14.0% and a 19.8% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Cormedix Inc has an analyst consensus of Moderate Buy, with a price target consensus of $3.50.
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Based on Cormedix Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $10.24 million. In comparison, last year the company had a GAAP net loss of $9.96 million.
Based on the recent corporate insider activity of 19 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 that seeks to in-license, develop and commercialize prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases.
