CorMedix (CRMD) shares ended the last trading session 21.7% higher at $16.56. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.1% gain over the past four weeks.
The sudden stock price urge was observed after CorMedix announced that a major Large Dialysis Organization customer has started ordering and will implement DefenCath for patient use in the second half of 2025. DefenCath is CRMD’s sole marketed product which was approved by the FDA in November 2023 as the first catheter lock solution. The rollout will initially target at least 50% more patients than previously planned, prompting an amended agreement to reflect the anticipated increased use of the product. This development led CorMedix to raise its second-quarter net sales guidance to $35–$40 million, up from $31 million, fueling investor optimism.
This pharmaceutical and medical device company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +160%. Revenues are expected to be $30.31 million, up 3641.4% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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, Sutro Biopharma, Inc. (STRO), finished the last trading session 0.3% lower at $0.8. STRO has returned -13% over the past month.
For Sutro Biopharma, the consensus EPS estimate for the upcoming report has changed +2.6% over the past month to -$0.43. This represents a change of +27.1% from what the company reported a year ago. Sutro Biopharma currently has a Zacks Rank of #3 (Hold).
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CorMedix Inc (CRMD): Free Stock Analysis Report Sutro Biopharma, Inc. (STRO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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