364,019 Shares in CorMedix Inc. (NASDAQ:CRMD) Acquired by Palisades Investment Partners LLC

Palisades Investment Partners LLC purchased a new position in shares of CorMedix Inc. (NASDAQ:CRMD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 364,019 shares of the company's stock, valued at approximately $2,949,000. Palisades Investment Partners LLC owned 0.60% of CorMedix as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRMD. Elliott Investment Management L.P. lifted its position in CorMedix by 85.1% during the 4th quarter. Elliott Investment Management L.P. now owns 2,870,632 shares of the company's stock worth $23,252,000 after acquiring an additional 1,320,109 shares during the period. J. Goldman & Co LP lifted its position in CorMedix by 221.1% during the 4th quarter. J. Goldman & Co LP now owns 457,320 shares of the company's stock worth $3,704,000 after acquiring an additional 314,880 shares during the period. Vanguard Group Inc. lifted its holdings in shares of CorMedix by 10.1% in the 4th quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company's stock valued at $27,363,000 after buying an additional 309,514 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of CorMedix by 685.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 194,108 shares of the company's stock valued at $1,568,000 after buying an additional 169,397 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of CorMedix by 1,398.2% in the 4th quarter. New York State Common Retirement Fund now owns 167,249 shares of the company's stock valued at $1,355,000 after buying an additional 156,086 shares during the period. Institutional investors and hedge funds own 34.18% of the company's stock.

CorMedix Trading Up 3.4%

NASDAQ:CRMD traded up $0.42 during trading hours on Tuesday, hitting $12.78. 918,140 shares of the stock were exchanged, compared to its average volume of 1,161,869. CorMedix Inc. has a 52-week low of $3.61 and a 52-week high of $13.85. The firm's fifty day moving average price is $9.10 and its 200 day moving average price is $9.82. The company has a market cap of $866.53 million, a P/E ratio of -15.78 and a beta of 1.54.

CorMedix (NASDAQ:CRMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. The company had revenue of $39.08 million during the quarter, compared to analysts' expectations of $38.90 million. During the same quarter last year, the company earned ($0.25) earnings per share. Equities analysts expect that CorMedix Inc. will post -0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. D. Boral Capital reissued a "buy" rating and issued a $15.00 price objective on shares of CorMedix in a report on Tuesday, May 6th. Wall Street Zen raised CorMedix from a "sell" rating to a "hold" rating in a report on Tuesday, April 1st. Leerink Partners assumed coverage on CorMedix in a report on Friday, March 7th. They issued an "outperform" rating and a $18.00 price objective for the company. Leerink Partnrs upgraded CorMedix to a "strong-buy" rating in a research note on Friday, March 7th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $12.00 price target on shares of CorMedix in a research note on Wednesday, March 26th. 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 data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $15.00.

CorMedix Company 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.