AMEX:CRMD

Stock Analysis Report

Executive Summary

CorMedix, Inc., a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States and internationally.


Snowflake Analysis

Flawless balance sheet and slightly overvalued.

Share Price & News

How has CorMedix's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CRMD's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-2.7%

CRMD

-2.5%

US Pharmaceuticals

-4.2%

US Market


1 Year Return

-32.9%

CRMD

3.7%

US Pharmaceuticals

14.0%

US Market

Return vs Industry: CRMD underperformed the US Pharmaceuticals industry which returned 3.7% over the past year.

Return vs Market: CRMD underperformed the US Market which returned 14% over the past year.


Shareholder returns

CRMDIndustryMarket
7 Day-2.7%-2.5%-4.2%
30 Day-10.9%-3.3%-1.8%
90 Day2.7%2.5%2.6%
1 Year-32.9%-32.9%6.3%3.7%16.3%14.0%
3 Year-41.6%-41.6%23.1%14.3%43.2%34.0%
5 Year-77.9%-77.9%26.3%12.5%65.9%47.6%

Price Volatility Vs. Market

How volatile is CorMedix's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is CorMedix undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CRMD ($6.07) is trading below our estimate of fair value ($42.61)

Significantly Below Fair Value: CRMD is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CRMD is unprofitable, so we can't compare its PE Ratio to the Pharmaceuticals industry average.

PE vs Market: CRMD is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CRMD's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CRMD is overvalued based on its PB Ratio (5.4x) compared to the US Pharmaceuticals industry average (2.9x).


Next Steps

Future Growth

How is CorMedix forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

45.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CRMD is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: CRMD is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: CRMD is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: CRMD's revenue (74.2% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: CRMD's revenue (74.2% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CRMD's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has CorMedix performed over the past 5 years?

-13.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CRMD is currently unprofitable.

Growing Profit Margin: CRMD is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CRMD is unprofitable, and losses have increased over the past 5 years at a rate of -13.4% per year.

Accelerating Growth: Unable to compare CRMD's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CRMD is unprofitable, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (2.4%).


Return on Equity

High ROE: CRMD has a negative Return on Equity (-31.28%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is CorMedix's financial position?


Financial Position Analysis

Short Term Liabilities: CRMD's short term assets ($33.6M) exceed its short term liabilities ($5.0M).

Long Term Liabilities: CRMD's short term assets ($33.6M) exceed its long term liabilities ($3.1K).


Debt to Equity History and Analysis

Debt Level: CRMD is debt free.

Reducing Debt: CRMD had no debt 5 years ago.


Balance Sheet

Inventory Level: CRMD has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if CRMD's debt is covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CRMD has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: CRMD has sufficient cash runway for 1.5 years if free cash flow continues to reduce at historical rates of -25.3% each year.


Next Steps

Dividend

What is CorMedix's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.8%industryaverage2.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate CRMD's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate CRMD's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CRMD's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CRMD's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CRMD's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.9yrs

Average management tenure


CEO

Khoso Baluch (61yo)

3.3yrs

Tenure

US$637,841

Compensation

Mr. Khoso Baluch has been the Chief Executive Officer of CorMedix, Inc. since October 3, 2016. Mr. Baluch served as Senior Vice President and President Europe, Middle East & Africa EMEA at UCB, SA or UCB,  ...


CEO Compensation Analysis

Compensation vs Market: Khoso's total compensation ($USD637.84K) is below average for companies of similar size in the US market ($USD1.11M).

Compensation vs Earnings: Khoso's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Khoso Baluch
CEO & Director3.3yrsUS$637.84k0.21% $319.1k
John Armstrong
Executive Vice President for Technical Operations2.9yrsUS$399.11k0.27% $421.1k
Elizabeth Masson
Executive VP & Head of Clinical Operations1.9yrsUS$420.48k0.031% $48.6k
Phoebe Mounts
Executive VP0.8yrsno data0.0056% $8.7k
Paul Chew
Consultant Advisor Chief Medical Officer1.8yrsno datano data

1.9yrs

Average Tenure

65yo

Average Age

Experienced Management: CRMD's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Khoso Baluch
CEO & Director3.3yrsUS$637.84k0.21% $319.1k
Myron Kaplan
Independent Chairman of the Board2.5yrsUS$70.88k0.42% $647.9k
Janet Dillione
Independent Director4.5yrsUS$54.42k0.21% $324.6k
Steven Lefkowitz
Independent Director2.7yrsUS$67.46k0.23% $364.8k
C. Webb
Member of Scientific Advisor Board0yrsno datano data
Mehmood Khan
Independent Director2.7yrsUS$53.57k0.51% $788.6k
Bruce Polsky
Member of Scientific Advisor Board0yrsno datano data
Michael Allon
Chairman of Scientific Advisor Board0yrsno datano data
Paul Flyer
Member of Scientific Advisor Board0yrsno datano data
Bruce Reidenberg
Member of Scientific Advisor Board0yrsno datano data

2.7yrs

Average Tenure

62yo

Average Age

Experienced Board: CRMD's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CRMD insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 44.2%.


Top Shareholders

Company Information

CorMedix, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CorMedix, Inc.
  • Ticker: CRMD
  • Exchange: AMEX
  • Founded: 2006
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: US$155.579m
  • Shares outstanding: 25.63m
  • Website: https://www.cormedix.com

Number of Employees


Location

  • CorMedix, Inc.
  • 400 Connell Drive
  • Suite 5000
  • Berkeley Heights
  • New Jersey
  • 7922
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CRMDAMEX (NYSE MKT LLC)YesClass A Common StockUSUSDMay 2010
19KADB (Deutsche Boerse AG)YesClass A Common StockDEEURMay 2010

Biography

CorMedix, Inc., a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States and internationally. It primarily focuses on the development of its lead product candidate, Neutrolin, an anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as dialysis, critical/intensive care, and oncology. The company was formerly known as Picton Holding Company, Inc. and changed its name to CorMedix, Inc. in January 2007. CorMedix, Inc. was founded in 2006 and is based in Berkeley Heights, New Jersey. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 00:50
End of Day Share Price2020/02/24 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.