H.C. Wainwright Sticks to Their Buy Rating for Cormedix Inc (CRMD)

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Cormedix Inc (CRMD), with a price target of $14. The company’s shares closed on Friday at $6.88.

Selvaraju said:

“We have modestly adjusted our 12-month price target to $14.00 from $15.00 per share to reflect the projected 34M fully-diluted shares outstanding as of end-1Q 2020, while reiterating our Buy rating on CorMedix shares.”

According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.0% and a 29.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cormedix Inc with a $14 average price target.

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The company has a one-year high of $13.70 and a one-year low of $0.90. Currently, Cormedix Inc has an average volume of 959.5K.

Based on the recent corporate insider activity of 24 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.

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