Piper Sandler Reiterates “Neutral” Rating for KORU Medical Systems (NASDAQ:KRMD)

KORU Medical Systems (NASDAQ:KRMD)‘s stock had its “neutral” rating reissued by investment analysts at Piper Sandler in a report released on Friday,Benzinga reports. They currently have a $4.50 target price on the stock. Piper Sandler’s price objective suggests a potential downside of 5.26% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Craig Hallum lifted their price target on shares of KORU Medical Systems from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Canaccord Genuity Group lifted their target price on KORU Medical Systems from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Lake Street Capital upped their price target on KORU Medical Systems from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $4.70.

KORU Medical Systems Stock Performance

KRMD opened at $4.75 on Friday. The company’s 50 day moving average is $4.12 and its 200 day moving average is $3.21. The company has a current ratio of 2.99, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01. The company has a market cap of $217.74 million, a price-to-earnings ratio of -19.00 and a beta of 0.45. KORU Medical Systems has a 12-month low of $2.01 and a 12-month high of $5.05.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in KORU Medical Systems in the 3rd quarter worth $34,000. JPMorgan Chase & Co. boosted its stake in shares of KORU Medical Systems by 2,770.7% in the fourth quarter. JPMorgan Chase & Co. now owns 17,712 shares of the company’s stock worth $68,000 after acquiring an additional 17,095 shares during the period. Virtu Financial LLC purchased a new stake in shares of KORU Medical Systems during the fourth quarter worth about $73,000. Y Intercept Hong Kong Ltd bought a new stake in KORU Medical Systems during the 4th quarter valued at approximately $104,000. Finally, Raymond James Financial Inc. purchased a new position in KORU Medical Systems in the 4th quarter worth approximately $118,000. Hedge funds and other institutional investors own 58.60% of the company’s stock.

About KORU Medical Systems

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria.