CorMedix Inc. (NASDAQ:CRMD) Position Lifted by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in CorMedix Inc. (NASDAQ:CRMD) by 63.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 24,063 shares of the company’s stock after purchasing an additional 9,368 shares during the period. Intech Investment Management LLC’s holdings in CorMedix were worth $195,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CRMD. FMR LLC increased its holdings in CorMedix by 54.3% in the third quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after buying an additional 1,625 shares during the last quarter. AlphaMark Advisors LLC grew its position in shares of CorMedix by 16.7% in the 4th quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company’s stock worth $113,000 after acquiring an additional 2,000 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of CorMedix by 2.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company’s stock valued at $1,214,000 after acquiring an additional 3,221 shares during the last quarter. Rhumbline Advisers raised its position in shares of CorMedix by 8.6% during the 4th quarter. Rhumbline Advisers now owns 75,747 shares of the company’s stock valued at $614,000 after acquiring an additional 6,028 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in CorMedix by 130.3% during the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock worth $97,000 after purchasing an additional 6,761 shares during the last quarter. Institutional investors and hedge funds own 34.18% of the company’s stock.

Analyst Upgrades and Downgrades

CRMD has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 target price on shares of CorMedix in a research note on Wednesday. Leerink Partners initiated coverage on CorMedix in a report on Friday, March 7th. They set an “outperform” rating and a $18.00 target price for the company. D. Boral Capital restated a “buy” rating and set a $15.00 price objective on shares of CorMedix in a research report on Tuesday. Leerink Partnrs upgraded CorMedix to a “strong-buy” rating in a research note on Friday, March 7th. Finally, Needham & Company LLC cut their price objective on shares of CorMedix from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.14.

CorMedix Stock Performance

Shares of CRMD stock opened at $6.71 on Friday. The stock has a market cap of $407.14 million, a PE ratio of -8.28 and a beta of 1.53. The business’s fifty day moving average is $10.54 and its 200-day moving average is $9.88. CorMedix Inc. has a 1 year low of $3.61 and a 1 year high of $13.85.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. The business had revenue of $30.00 million for the quarter, compared to the consensus estimate of $27.46 million. The business’s revenue for the quarter was up 29900.0% on a year-over-year basis. Equities research analysts predict that CorMedix Inc. will post -0.32 earnings per share for the current year.

About CorMedix

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. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.