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JMP Securities Thinks Cormedix’s Stock is Going to Recover

JMP Securities analyst Jason Butler reiterated a Buy rating on Cormedix (CRMDResearch Report) today and set a price target of $19.00. The company’s shares closed last Monday at $4.85, close to its 52-week low of $3.65.

According to TipRanks.com, Butler has 0 stars on 0-5 stars ranking scale with an average return of -4.4% and a 37.5% success rate. Butler covers the Healthcare sector, focusing on stocks such as Applied Molecular Transport, ACADIA Pharmaceuticals, and Aquestive Therapeutics.

Currently, the analyst consensus on Cormedix is a Moderate Buy with an average price target of $19.00.

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Cormedix’s market cap is currently $153.1M and has a P/E ratio of -5.48.

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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.

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