H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Cormedix Inc (NYSE: CRMD) today and set a price target of $3. The company’s shares closed yesterday at $0.55.
Selvaraju noted:
“We reiterate our Buy rating and 12-month price target of $3.00 per share on CRMD.”
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -2.9% and a 36.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Cormedix Inc has an analyst consensus of Moderate Buy, with a price target consensus of $3.
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Based on Cormedix Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $8.56 million. In comparison, last year the company had a GAAP net loss of $5.15 million.
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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.
