Cormedix (NASDAQ:CRMD) Stock, Quote.Headers.trade-ideas

Cormedix

Cormedix Inc is a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases. The Company's focus is on the commercialization of its product, DefenCath, in the United States (U.S.) and other key markets.

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CRMD

Shares of CorMedix (NASDAQ: CRMD) have been struggling lately and have lost 7.7% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears.

Here&#39;s Why CorMedix Is a Great &#39;Buy the Bottom&#39; Stock Now

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Galapagos, XPeng, CorMedix And Other Big Stocks Moving Higher On Monday

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Why CorMedix Stock Popped Wednesday

Cormedix Inc

<a href="https://www.globenewswire.com/Tracker?data=IOZSQF7l2NlW9dojiDWx9HMQptoABpF2Il4ywCXA5XTPitneEGZNU0z2MWDTAUvxuelopl_woOJhmiPtw5Rn-w==">CorMedix Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>), a biopharmaceutical company focused on developing therapeutic products for life-threatening diseases and conditions, today announced that it has entered into a new commercial supply contract with a top-tier mid-sized dialysis operator for the supply of DefenCath&#xAE; (taurolidine and heparin) to dialysis clinics in the US. This new agreement will provide access to DefenCath for adult patients with kidney failure receiving hemodialysis through a central venous catheter at more than 250 outpatient dialysis clinics located across the United States. &nbsp;
CorMedix received NDA approval of DefenCath under the Limited Population Pathway for Antibacterial and Antifungal Drugs (LPAD) on November 15, 2023, and began commercialization of the product in the inpatient setting on April 15, 2024. Outpatient reimbursement of DefenCath from the Center for Medicare &amp; Medicaid Services (CMS) took effect on July 1st, and CorMedix subsequently commenced the shipment of orders to outpatient dialysis facilities in July. CorMedix anticipates shipments for DefenCath under this agreement to begin in the beginning of the fourth quarter.

CorMedix Inc. Announces New Commercial Agreement To Provide Access To DefenCath For Adult Patients With Kidney Failure Receiving Hemodialysis Through A Central Venous Catheter At More Than 250 Outpatient Dialysis Clinics Located Across The United States

WIIM

CorMedix shares are trading higher after the company on Monday entered into a multi-year commercial supply contract with a healthcare company for the supply of DefenCath to its U.S. facilities.

Shares of CorMedix (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crmd#NASDAQ">CRMD</a>) have been struggling lately and have lost 7.7% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.
The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this pharmaceutical and medical device company enhances its prospects of a trend reversal.
<img alt="1-month candlestick chart for CRMD" class="chart" src="https://staticx-tuner.zacks.com/images/articles/charts/yseop/550/CRMD_Hammer.jpeg" style="height:auto; width:100%" title="" />
<h2>What is a Hammer Chart and How to Trade It?</h2>
This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a &#39;hammer.&#39;
In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day&#39;s close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.
When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.
Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.
Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.
<h2>Here&#39;s What Makes the Trend Reversal More Likely for CRMD</h2>
An upward trend in earnings estimate revisions that CRMD has been witnessing lately can certainly be considered a bullish indicator on the fundamental side. That&#39;s because empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
The consensus EPS estimate for the current year has increased 31% over the last 30 days. This means that the Wall Street analysts covering CRMD are majorly in agreement about the company&#39;s potential to report better earnings than what they predicted earlier.
If this is not enough, you should note that CRMD currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market.
Moreover, a Zacks Rank of 2 for CorMedix is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company&#39;s prospects are beginning to improve.
<a href="https://www.zacks.com/stock/news/2333463/here-s-why-cormedix-crmd-is-a-great-buy-the-bottom-stock-now?cid=CS-BENZ-FT-tale_of_the_tape|hammer_chart_pattern_(ta)-2333463">To read this article on Zacks.com click here.</a>

Here's Why CorMedix Is a Great 'Buy the Bottom' Stock Now

<a href="https://www.globenewswire.com/Tracker?data=jmWKlmzWclHPkxouFC8ycS6Eer4tcenbr72FFQ2TkhrRix0wLIPfThWEricnJD1ty7ULlSJd4yf_wf5iLtmUFA==">CorMedix Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>), a biopharmaceutical company focused on developing therapeutic products for life-threatening diseases and conditions, today announced that it has entered into a multi-year commercial supply contract with a global healthcare company for the supply of DefenCath&#xAE; (taurolidine and heparin) to its facilities in the US. &nbsp;
The company, which provides healthcare services to more than 2,000 clinics in the United States, expects to initially target the utilization of DefenCath in up to 4,000 patients nationally, that would be prioritized based upon medical need. CorMedix received NDA approval of DefenCath under the Limited Population Pathway for Antibacterial and Antifungal Drugs (LPAD) on November 15, 2023, and began commercialization of the product in the inpatient setting on April 15, 2024. Outpatient reimbursement of DefenCath from the Center for Medicare &amp; Medicaid Services (CMS) took effect on July 1st, and CorMedix subsequently commenced the shipment of orders in July. CorMedix anticipates shipments for DefenCath under this agreement to begin in the fourth quarter.

CorMedix Has Entered Into A Multi-Year Commercial Supply Contract With A Global Healthcare Company For The Supply Of DefenCath To Its Facilities In The U.S.

CorMedix shares are trading higher after Rodman & Renshaw initiated coverage on the stock with a Buy rating and announced a $13 price target.

U.S. stocks were mostly higher, with the Dow Jones index gaining around 150 points on Monday.
Shares of Galapagos NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLPG#NASDAQ">GLPG</a>) rose sharply during Monday's session after Ecor1 Capital reported a 9.9% stake in the company.
Galapagos shares jumped 10% to $28.47 on Monday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>COMPASS Pathways plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPS#NASDAQ">CMPS</a>) shares gained 14.3% to $8.22.</li>
<li>MoneyLion Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ML#NYSE">ML</a>) gained 9.4% to $47.41 after announcing a $20 million share repurchase program.</li>
<li>Gyre Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GYRE#NASDAQ">GYRE</a>) jumped 9% to $14.00.</li>
<li>PureTech Health plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTC#NASDAQ">PRTC</a>) rose 8% to $23.87.</li>
<li>Intuitive Machines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) gained 7% to $5.61.</li>
<li>XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) shares rose 6.1% to $7.44 after disclosing that its CEO had acquired over 2 million shares of the company.</li>
<li>Array Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) jumped 5.7% to $7.32.</li>
<li>Chart Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NASDAQ">GTLS</a>) gained 5.6% to $130.54.</li>
<li>Rocket Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCKT#NASDAQ">RCKT</a>) jumped 5.5% to $19.63.</li>
<li>CorMedix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>) gained 5.3% to $5.95. Rodman &amp; Renshaw analyst Brandon Folkes initiated coverage on Cormedix with a Buy rating and announced a price target of $13.</li>
<li>Pharming Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHAR#NASDAQ">PHAR</a>) gained 5% to $7.98.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) rose 4.8% to $128.95.</li>
<li>ProFrac Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACDC#NASDAQ">ACDC</a>) gained 4.6% to $6.80.</li>
</ul>
Now Read This: 
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Rodman &amp; Renshaw analyst Brandon Folkes initiates coverage on Cormedix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>) with a Buy rating and announces Price Target of $13.

Price Target

Initiation

Rodman & Renshaw Initiates Coverage On Cormedix with Buy Rating, Announces Price Target of $13

RBC Capital analyst Gregory Renza reiterates Cormedix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>) with a Outperform and maintains $9 price target.

Reiteration

RBC Capital Reiterates Outperform on Cormedix, Maintains $9 Price Target

Needham analyst Serge Belanger reiterates Cormedix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>) with a Buy and maintains $10 price target.

Needham Reiterates Buy on Cormedix, Maintains $10 Price Target

CorMedix shares are trading higher. The company reported Q2 financial results.

Cormedix Q2 2024 GAAP EPS $(0.25), Inline, Sales $806.119K Miss $1.674M Estimate

Truist Securities analyst Joon Lee maintains Cormedix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>) with a Buy and lowers the price target from $14 to $12.

Truist Securities Maintains Buy on Cormedix, Lowers Price Target to $12

CorMedix Receives FDA Support for Expanded Indication of DefenCath in Adult TPN Patients; Plans to Submit Clinical Protocol in Q3 2024 and Initiate Program by Year-End

CorMedix Announces CMS Grants Pass-Through Status For DefenCath Under Hospital Outpatient Prospective Payment System (OPPS)

<a href="https://www.globenewswire.com/Tracker?data=dqrfHybmBAvA1QAv8PL4fo7g5PcXPG4dDMhrcMmhJASykRB9rOKLHGk8hec8EU6VZQMqWXRfCQYT6DJKVOKJ1w==">CorMedix Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>), a biopharmaceutical company focused on developing therapeutic products for life-threatening diseases and conditions, today announced that it has entered into a multi-year commercial supply contract with a top tier midsized dialysis provider for the supply of DefenCath&#xAE; (taurolidine and heparin). &nbsp;
CorMedix received NDA approval of DefenCath&#xAE; under the Limited Population Pathway for Antibacterial and Antifungal Drugs (LPAD) on November 15, 2023, and began commercialization of the product in the inpatient setting on April 15th. The Company expects to begin commercialization in outpatient dialysis clinics in July. CorMedix is committed to building meaningful long-term relationships with dialysis providers that are dedicated to innovation and infection reduction. This agreement will allow for patients to have access to DefenCath at more than 500 dialysis facilities located nationally.

Contracts

CorMedix Announces Commercial Agreement With Top Tier Dialysis Provider For The Supply Of DefenCath

Cormedix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>) reported quarterly losses of $(0.25) per share which beat the analyst consensus estimate of $(0.28) by 10.71 percent. This is a 4.17 percent decrease over losses of $(0.24) per share from the same period last year.

Earnings Beats

Cormedix Q1 2024 GAAP EPS $(0.25) Beats $(0.28) Estimate, Cash and Equivalents of $58.6M

CorMedix Inc. Announces CMS Grants Transitional Drug Add-On Payment To DefenCath

CorMedix Announces U.S. Inpatient Commercial Availability Of DefenCath

Here's the major earnings before the open tomorrow

CorMedix GAAP EPS of -$0.25 in-line, revenue of $0.81M misses by $0.86M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Cormedix (NASDAQ:<a href="https://investorplace.com/stock-quotes/crmd-stock-quote/">CRMD</a>) just reported results for the second quarter of 2024.<ul><li>Cormedix reported earnings per share of -25 cents. This met the analyst estimate for EPS of -25 cents.</li><li>The company reported revenue of $806,119.</li><li>This was 51.73% worse than the analyst estimate for revenue of $1.67 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/crmd-stock-earnings-cormedix-for-q2-of-2024/">CRMD Stock Earnings: Cormedix Meets EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

CRMD Stock Earnings: Cormedix Meets EPS, Misses Revenue for Q2 2024

Jason Butler, an analyst from JMP Securities, reiterated the Buy rating on Cormedix (CRMD – Research Report). The associated price target remains t...

CorMedix's DefenCath Drives Growth: A Strong Buy on Impressive Early Sales and Positive Outlook

CorMedix Inc. (CRMD) Q2 2024 Earnings Call Transcript

Analyst Serge Belanger of Needham maintained a Buy rating on Cormedix (CRMD – Research Report), retaining the price target of $10.00. Serge Belange...

Buy Rating Affirmed: Promising DefenCath Launch and Financial Stability Position Cormedix for Market Growth

In a report released yesterday, Gregory Renza from RBC Capital maintained a Buy rating on Cormedix (CRMD – Research Report), with a price target of...

RBC Capital Sticks to Their Buy Rating for Cormedix (CRMD)

Cormedix (CRMD – Research Report) received a Buy rating and price target from Truist Financial analyst Les Sulewski today. The company's shares clo...

Cormedix (CRMD) Gets a Buy from Truist Financial

CorMedix announces new commercial agreement

JMP Securities analyst Jason Butler has reiterated their bullish stance on CRMD stock, giving a Buy rating on August 26. Jason Butler has given his...

Buy Rating on Cormedix Affirmed Amidst DefenCath's Strong Market Entry and Growth Prospects

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Press Releases

CorMedix Inc. to Participate in Two Upcoming Investor Conferences

CorMedix Inc. Announces Commercial Agreement With Top Tier Dialysis Provider

CorMedix Inc. Announces CMS Grants Pass-Through Status to Defencath

CorMedix Inc. Receives FDA Feedback on Potential Label Expansion

CorMedix Inc. Announces Outpatient Availability of DefenCath

CorMedix Inc. to Report Second Quarter 2024 Financial Results and Provide a Corporate Update on August 14, 2024

CorMedix Inc. Reports Second Quarter and Six Month 2024 Financial Results and Provides Business Update

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Cormedix

Cormedix (CRMD) Forecast

Cormedix (NASDAQ:CRMD) Stock, Quote.Headers.trade-ideas