KORU Medical Systems (NASDAQ:KRMD) Price Target Raised to $4.00 at Canaccord Genuity Group

KORU Medical Systems (NASDAQ:KRMD) had its price target upped by Canaccord Genuity Group from $3.00 to $4.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also issued reports on the stock. Piper Sandler boosted their target price on shares of KORU Medical Systems from $3.00 to $3.50 and gave the company an “overweight” rating in a research note on Thursday. B. Riley assumed coverage on shares of KORU Medical Systems in a report on Thursday, July 25th. They issued a “buy” rating and a $4.00 price target on the stock.

KORU Medical Systems Trading Down 0.6 %

Shares of KRMD traded down $0.02 during trading hours on Thursday, reaching $3.06. 80,506 shares of the company traded hands, compared to its average volume of 114,603. The firm has a market cap of $140.30 million, a price-to-earnings ratio of -12.48 and a beta of 0.41. KORU Medical Systems has a 12-month low of $1.98 and a 12-month high of $3.40. The company has a current ratio of 3.77, a quick ratio of 3.27 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $2.65 and its 200 day moving average price is $2.47.

Hedge Funds Weigh In On KORU Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of KRMD. Archon Capital Management LLC raised its position in shares of KORU Medical Systems by 6.2% in the 1st quarter. Archon Capital Management LLC now owns 3,951,393 shares of the company’s stock valued at $9,325,000 after purchasing an additional 230,517 shares during the last quarter. Meros Investment Management LP raised its position in shares of KORU Medical Systems by 20.7% in the 2nd quarter. Meros Investment Management LP now owns 804,380 shares of the company’s stock valued at $2,132,000 after purchasing an additional 137,918 shares during the last quarter. First Light Asset Management LLC raised its position in shares of KORU Medical Systems by 1.1% in the 1st quarter. First Light Asset Management LLC now owns 5,220,990 shares of the company’s stock valued at $12,322,000 after purchasing an additional 57,253 shares during the last quarter. Vanguard Group Inc. raised its position in KORU Medical Systems by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,961,764 shares of the company’s stock worth $4,630,000 after buying an additional 51,890 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in KORU Medical Systems during the 2nd quarter worth approximately $107,000. 58.60% of the stock is owned by hedge funds and other institutional investors.

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.