D. E. Shaw & Co. Inc. Buys 125,425 Shares of CorMedix Inc. (NASDAQ:CRMD)

D. E. Shaw & Co. Inc. raised its stake in CorMedix Inc. (NASDAQ:CRMD) by 39.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 446,414 shares of the company’s stock after purchasing an additional 125,425 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.74% of CorMedix worth $3,616,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new stake in CorMedix in the 4th quarter valued at $81,000. Captrust Financial Advisors bought a new stake in CorMedix in the 4th quarter valued at $90,000. Aigen Investment Management LP bought a new stake in CorMedix in the 4th quarter valued at $94,000. XTX Topco Ltd bought a new stake in CorMedix in the 4th quarter valued at $95,000. Finally, Legato Capital Management LLC bought a new stake in CorMedix in the 4th quarter valued at $97,000. 34.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. D. Boral Capital reissued a “buy” rating and issued a $15.00 price target on shares of CorMedix in a report on Tuesday, May 6th. Needham & Company LLC increased their price objective on shares of CorMedix from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Leerink Partners initiated coverage on shares of CorMedix in a research note on Friday, March 7th. They issued an “outperform” rating and a $18.00 price objective for the company. StockNews.com upgraded shares of CorMedix from a “sell” rating to a “hold” rating in a research note on Tuesday, April 1st. Finally, Leerink Partnrs upgraded shares of CorMedix to a “strong-buy” rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, CorMedix currently has a consensus rating of “Buy” and an average target price of $15.00.

CorMedix Stock Up 5.0%

Shares of CorMedix stock opened at $12.28 on Monday. The stock has a market capitalization of $832.89 million, a P/E ratio of -15.16 and a beta of 1.54. The company has a 50-day simple moving average of $8.88 and a 200 day simple moving average of $9.73. CorMedix Inc. has a 12-month low of $3.61 and a 12-month high of $13.85.

CorMedix (NASDAQ:CRMD) last announced its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The firm had revenue of $39.08 million for the quarter, compared to analyst estimates of $38.90 million. During the same quarter last year, the business earned ($0.25) EPS. On average, equities analysts anticipate 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.