Millennium Management LLC Raises Holdings in CorMedix Inc. (NASDAQ:CRMD)

Millennium Management LLC lifted its holdings in CorMedix Inc. (NASDAQ:CRMD - Free Report) by 97.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,134 shares of the company's stock after acquiring an additional 87,896 shares during the period. Millennium Management LLC owned 0.29% of CorMedix worth $1,443,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CRMD. Janney Montgomery Scott LLC bought a new position in shares of CorMedix in the 4th quarter valued at about $81,000. Captrust Financial Advisors purchased a new stake in CorMedix in the 4th quarter worth about $90,000. Aigen Investment Management LP purchased a new stake in CorMedix in the 4th quarter worth about $94,000. XTX Topco Ltd purchased a new stake in CorMedix in the 4th quarter worth about $95,000. Finally, Legato Capital Management LLC purchased a new stake in CorMedix in the 4th quarter worth about $97,000. Institutional investors own 34.18% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CRMD. Wall Street Zen raised shares of CorMedix from a "sell" rating to a "hold" rating in a research report on Tuesday, April 1st. D. Boral Capital reissued a "buy" rating and issued a $15.00 price objective on shares of CorMedix in a research 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 stock a "buy" rating in a research report on Wednesday, May 7th. Royal Bank of Canada reissued an "outperform" rating and issued a $12.00 price objective on shares of CorMedix in a research report on Wednesday, March 26th. Finally, Leerink Partnrs raised shares of CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $15.00.

CorMedix Price Performance

Shares of NASDAQ:CRMD traded up $0.80 during trading on Friday, reaching $13.98. 2,517,829 shares of the company were exchanged, compared to its average volume of 1,194,125. The firm has a market capitalization of $948.19 million, a PE ratio of -17.26 and a beta of 1.62. The business's fifty day simple moving average is $9.93 and its 200-day simple moving average is $9.93. CorMedix Inc. has a 12-month low of $3.61 and a 12-month high of $13.99.

CorMedix (NASDAQ:CRMD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The company had revenue of $39.08 million for the quarter, compared to analysts' expectations of $38.90 million. During the same period last year, the business posted ($0.25) earnings per share. On average, sell-side analysts anticipate that CorMedix Inc. will post -0.32 EPS for the current fiscal 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.