We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CorMedix (CRMD) Stock Jumps 14.8%: Will It Continue to Soar?
Read MoreHide Full Article
CorMedix (CRMD - Free Report) shares rallied 14.8% in the last trading session to close at $5.88. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 29.3% gain over the past four weeks.
Last month, the company resubmitted the new drug application for its lead product, DefenCath, an antibacterial and antifungal solution which is designed to prevent bloodstream infections related to the use of central venous catheters in patients undergoing chronic hemodialysis. This might have been driving the share price rally. Earlier this month, the company announced that it has appointed Joseph Todisco, as the new chief executive officer. This is also a positive.
This pharmaceutical and medical device company is expected to post quarterly loss of $0.22 per share in its upcoming report, which represents a year-over-year change of -15.8%. Revenues are expected to be $0.04 million, down 33.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For CorMedix, the consensus EPS estimate for the quarter has been revised 47.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CRMD going forward to see if this recent jump can turn into more strength down the road.
CorMedix is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Viridian Therapeutics, Inc. (VRDN - Free Report) , finished the last trading session 1.2% lower at $20.19. VRDN has returned 6.7% over the past month.
Viridian Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has changed -18.7% over the past month to -$0.92. Compared to the company's year-ago EPS, this represents a change of +68.4%. Viridian Therapeutics, Inc. currently boasts a Zacks Rank of #4 (Sell).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
CorMedix (CRMD) Stock Jumps 14.8%: Will It Continue to Soar?
CorMedix (CRMD - Free Report) shares rallied 14.8% in the last trading session to close at $5.88. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 29.3% gain over the past four weeks.
Last month, the company resubmitted the new drug application for its lead product, DefenCath, an antibacterial and antifungal solution which is designed to prevent bloodstream infections related to the use of central venous catheters in patients undergoing chronic hemodialysis. This might have been driving the share price rally. Earlier this month, the company announced that it has appointed Joseph Todisco, as the new chief executive officer. This is also a positive.
This pharmaceutical and medical device company is expected to post quarterly loss of $0.22 per share in its upcoming report, which represents a year-over-year change of -15.8%. Revenues are expected to be $0.04 million, down 33.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For CorMedix, the consensus EPS estimate for the quarter has been revised 47.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CRMD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
CorMedix is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Viridian Therapeutics, Inc. (VRDN - Free Report) , finished the last trading session 1.2% lower at $20.19. VRDN has returned 6.7% over the past month.
Viridian Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has changed -18.7% over the past month to -$0.92. Compared to the company's year-ago EPS, this represents a change of +68.4%. Viridian Therapeutics, Inc. currently boasts a Zacks Rank of #4 (Sell).