Nicholas Investment Partners LP bought a new position in shares of CorMedix Inc. (NASDAQ:CRMD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 94,132 shares of the company's stock, valued at approximately $762,000. Nicholas Investment Partners LP owned 0.16% of CorMedix as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CRMD. JPMorgan Chase & Co. boosted its stake in CorMedix by 685.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 194,108 shares of the company's stock worth $1,568,000 after purchasing an additional 169,397 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in CorMedix by 8.2% during the fourth quarter. Bank of New York Mellon Corp now owns 129,695 shares of the company's stock worth $1,051,000 after buying an additional 9,782 shares during the last quarter. Barclays PLC increased its stake in shares of CorMedix by 35.6% in the 4th quarter. Barclays PLC now owns 105,602 shares of the company's stock worth $855,000 after acquiring an additional 27,732 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of CorMedix by 1,398.2% in the fourth quarter. New York State Common Retirement Fund now owns 167,249 shares of the company's stock valued at $1,355,000 after purchasing an additional 156,086 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in CorMedix during the fourth quarter worth about $1,085,000. 34.18% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Leerink Partners initiated coverage on shares of CorMedix in a report on Friday, March 7th. They set an "outperform" rating and a $18.00 price target for the company. D. Boral Capital reaffirmed a "buy" rating and issued a $15.00 price target on shares of CorMedix in a research note on Tuesday, May 6th. StockNews.com raised CorMedix from a "sell" rating to a "hold" rating in a research report on Tuesday, April 1st. Needham & Company LLC increased their target price on shares of CorMedix from $12.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $12.00 price objective on shares of CorMedix in a report on Wednesday, March 26th. One research 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 stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $15.00.
Get Our Latest Research Report on CRMD
CorMedix Trading Down 0.9%
Shares of NASDAQ:CRMD traded down $0.12 during midday trading on Tuesday, hitting $12.64. 333,320 shares of the stock were exchanged, compared to its average volume of 1,148,462. The company has a 50 day moving average price of $8.91 and a 200-day moving average price of $9.75. The stock has a market cap of $856.97 million, a P/E ratio of -15.58 and a beta of 1.54. CorMedix Inc. has a twelve month low of $3.61 and a twelve month high of $13.85.
CorMedix (NASDAQ:CRMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. The business had revenue of $39.08 million during the quarter, compared to analyst estimates of $38.90 million. During the same period in the previous year, the company earned ($0.25) EPS. On average, equities research analysts expect that CorMedix Inc. will post -0.32 earnings per share for the current year.
CorMedix Profile
(
Free Report)
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.
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