CorMedix (CRMD) Shares Up 17.2%

CorMedix Inc. (NYSEAMERICAN:CRMD) shot up 17.2% on Monday . The company traded as high as $0.67 and last traded at $0.75. 63,850 shares traded hands during trading, a decline of 97% from the average session volume of 2,293,307 shares. The stock had previously closed at $0.64.

A number of brokerages recently weighed in on CRMD. Zacks Investment Research cut shares of CorMedix from a “hold” rating to a “sell” rating in a research note on Tuesday. HC Wainwright set a $3.00 price objective on shares of CorMedix and gave the company a “buy” rating in a research note on Wednesday, August 15th.

CorMedix (NYSEAMERICAN:CRMD) last released its earnings results on Tuesday, August 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). CorMedix had a negative return on equity of 318.95% and a negative net margin of 16,300.49%. The company had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.10 million.

About CorMedix (NYSEAMERICAN:CRMD)

CorMedix, Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States and internationally. Its primary focus is on the development of its lead product candidate, Neutrolin, an anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as dialysis, critical/intensive care, and oncology.

Further Reading: Book Value Per Share – BVPS

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