In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Cormedix (CRMD), with a price target of $10.00. The company’s shares closed last Monday at $9.02.
According to TipRanks.com, Selvaraju is a top 100 analyst with an average return of 36.7% and a 67.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Protalix Biotherapeutics, NeuroBo Pharmaceuticals, and Adamas Pharmaceuticals.
Currently, the analyst consensus on Cormedix is a Strong Buy with an average price target of $25.00, a 203.0% upside from current levels. In a report issued on February 17, Needham also initiated coverage with a Buy rating on the stock with a $31.00 price target.
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Based on Cormedix’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $93.02K and GAAP net loss of $6.6 million. In comparison, last year the company earned revenue of $59.53K and had a GAAP net loss of $5.26 million.
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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.
