CorMedix (CRMD) Stock Price Down 16.5%

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Shares of CorMedix Inc. (NYSEAMERICAN:CRMD) were down 16.5% on Tuesday . The stock traded as low as $1.66 and last traded at $1.82. Approximately 6,073,127 shares changed hands during mid-day trading, an increase of 124% from the average daily volume of 2,707,269 shares. The stock had previously closed at $2.18.

Several analysts recently weighed in on CRMD shares. HC Wainwright set a $3.00 price objective on CorMedix and gave the company a “buy” rating in a report on Thursday, July 26th. Zacks Investment Research upgraded CorMedix from a “sell” rating to a “hold” rating in a report on Monday, October 8th.

CorMedix (NYSEAMERICAN:CRMD) last issued its quarterly earnings results on Tuesday, August 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, hitting the Zacks’ 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 business had revenue of $0.01 million for the quarter, compared to analyst estimates 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.

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