Raymond James Financial Inc. Purchases Shares of 115,661 CorMedix Inc. (NASDAQ:CRMD)

Raymond James Financial Inc. acquired a new position in shares of CorMedix Inc. (NASDAQ:CRMD) in the 4th quarter, HoldingsChannel reports. The firm acquired 115,661 shares of the company’s stock, valued at approximately $937,000.

Other institutional investors also recently modified their holdings of the company. FMR LLC increased its holdings in CorMedix by 54.3% during the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after purchasing an additional 1,625 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of CorMedix during the fourth quarter worth $81,000. Aigen Investment Management LP bought a new position in shares of CorMedix in the fourth quarter valued at about $94,000. BNP Paribas Financial Markets lifted its position in CorMedix by 130.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock worth $97,000 after buying an additional 6,761 shares in the last quarter. Finally, Legato Capital Management LLC bought a new stake in CorMedix during the 4th quarter worth about $97,000. Institutional investors own 34.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CRMD shares. D. Boral Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of CorMedix in a research note on Tuesday, March 25th. Leerink Partners assumed coverage on shares of CorMedix in a report on Friday, March 7th. They set an “outperform” rating and a $18.00 target price for the company. StockNews.com upgraded CorMedix from a “sell” rating to a “hold” rating in a research report on Tuesday. Leerink Partnrs upgraded CorMedix to a “strong-buy” rating in a report on Friday, March 7th. Finally, Needham & Company LLC lowered their price target on CorMedix from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $15.14.

CorMedix Stock Performance

Shares of CRMD stock opened at $5.86 on Friday. CorMedix Inc. has a 52 week low of $3.61 and a 52 week high of $13.85. The company’s 50 day moving average price is $9.81 and its two-hundred day moving average price is $9.86. The company has a market capitalization of $381.97 million, a P/E ratio of -7.23 and a beta of 1.53.

CorMedix (NASDAQ:CRMD) last released its earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The firm had revenue of $30.00 million for the quarter, compared to the consensus estimate of $27.46 million. The company’s revenue was up 29900.0% on a year-over-year basis. Analysts forecast that CorMedix Inc. will post -0.32 earnings per share for the current year.

CorMedix Profile

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.