Is CorMedix, Inc. overvalued or undervalued?

As of 6 May 2025, CorMedix, Inc. has moved from a valuation grade of risky to expensive. The company is currently overvalued based on its high P/E ratio of 55, which significantly exceeds the industry average, and an EV to EBITDA ratio of 57.92. Additionally, the PEG ratio stands at a low 0.42, indicating that despite the high valuation, the growth expectations may not justify the price.
In comparison to its peers, CorMedix, Inc. has a much higher P/E ratio than Monte Rosa Therapeutics, Inc., which is at 45.69, and Poseida Therapeutics, Inc., which is currently risky with a negative P/E of -15.24. The company's return performance has been impressive, with a year-to-date return of 104.44%, far outpacing the S&P 500's 2.44% during the same period, but this strong performance does not mitigate the overvaluation indicated by the current ratios.