CorMedix Inc., a biopharmaceutical company, focuses on developing and commercializing therapeutic products for life-threatening diseases and conditions in the United States.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price7.77 USD
Fair value11.35
Ethical score81.9/100
RatingSTRONG OPPORTUNITY
Our investment reviews on this name
2026-08-25Read Markup8.28-6.2% to today
2026-07-25Read Markdown7.87-1.3% to today ✓
2026-07-02Read Accumulation8.36-7.1% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
CorMedix Inc. holds its Markdown at $7.77. The statistical read favours the sellers, held for 5 days.
As held on the ledger · 2026-09-21
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 5 days
Price at the screen
$7.77
Valuation
3.56 trailing · 22.20 forward price to earnings
Values screen
PASS· score 81.9
Beta
1.50
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
23.94%
Below 33%
Interest-bearing debt is just 23.9% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
23.88%
Below 33%
Cash held in interest-bearing accounts and securities is 23.9% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads STRONG OPPORTUNITY: it trades at roughly a 46% discount to our $11.35 fair value, strong competitive moat, 156.50% revenue growth.
Fair value range in USD, drawn from the 2026-09-21 screen. The gold marker is the market price at the same screen. A 46.1% margin of safety to the base estimate.
Third-party analyst targets: 5 covering, consensus None. The average target sits +93% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-21 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
The biotech that finally got its yes
For years CorMedix was the definition of a lottery-ticket biotech: one drug, no approval, and a share price that lived and died on FDA letters. That story is over. DefenCath — a lock solution that stops the bloodstream infections which plague dialysis patients on catheters — is approved and selling, and the numbers coming out the other side look nothing like the old CorMedix.
Why it stands out. Revenue is growing at a triple-digit clip as DefenCath rolls into dialysis clinics, the company has crossed into profitability, and it clears our ethical screen cleanly. At around $8.40 it trades below our roughly $11 fair value, and the analysts covering it see more — targets run to the mid-teens. A company with an approved, reimbursed product finding its commercial feet is a fundamentally different animal from the pre-approval gamble the market still half-remembers.
The honest risk. It is still, essentially, a one-product company. The whole thesis rides on how quickly clinics adopt DefenCath and how payers reimburse it, and a stumble on either would hurt. It's a small-cap, so the price swings harder than the market, and the usual healthcare wildcards — competition, regulation — apply. This is not a widow-and-orphans holding.
Where we land. Fair value around $11, roughly a third above today's price, with the analyst crowd more bullish still. We track it as a live case study because it's exactly the kind of name our screens are built to catch early — a real product and real cash flow arriving before the wider market re-rates the story. Risk is high, call it 65%, almost all of it execution and single-product concentration. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day; as a biotechnology name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
A Real, Dated Position
Titan Case StudyActive
We put real conviction behind this one: a live position we track in the open, reported honestly whether it works or not. This is not just analysis.
Entered2026-07-01
Entry price$8.36
Entry phaseAccumulation
Now · 2026-09-18$7.72
Since entry-7.7%
ThesisAccumulation regime in FDA-approved healthcare micro-cap. Smart money loading before crowd notices. Monitor for markup transition.
A real, dated position · reported honestly whether it works or not. Analysis, not advice.
Where & How to Trade
CRMD trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-25Markup · changed$8.28+5.2%Entry 5
The framework has shifted from markdown to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 5.2% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 41%. Our forward projection puts the odds of a 10% gain over the next month near 36%. The street (5 analysts) rates it buy, with a mean price target of $15.
2026-07-25Markdown · changed$7.87-6.5%Entry 4
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.5% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 41%. Our forward projection puts the odds of a 10% gain over the next month near 36%. The street (5 analysts) rates it buy, with a mean price target of $15.
2026-07-18Accumulation$8.42+0.7%Entry 3
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.7% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 41%. Our forward projection puts the odds of a 10% gain over the next month near 36%. The street (5 analysts) rates it buy, with a mean price target of $15.
2026-07-03Accumulation$8.36+0.0%Entry 2
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Accumulation$8.36Entry 1
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
