CorMedix, Inc. CRMD was a big mover last session, as its shares rose over 16% on the day. The upside was driven by the announcement of enrollment and dosing of the first patient in the LOCK-IT-100 (Catheter Lock Solution Investigational Trial) Phase 3 clinical study. This also led to far more shares changing hands than in a normal session. Yesterday’s rally reverses the recent downtrend for the company, as the stock is now down over 13% in the past one-month time frame.
Over the last 30 days, the company witnessed one negative estimate revision and the Zacks Consensus Estimate also moved lower, signaling trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher lasts.
CorMedix currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
A better-ranked biomedical stock is Anika Therapeutics Inc. ANIK with a Zacks Rank #1 (Strong Buy).
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