Raymond James Financial Inc. acquired a new stake in shares of CorMedix Inc. (NASDAQ:CRMD - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 115,661 shares of the company's stock, valued at approximately $937,000. Raymond James Financial Inc. owned approximately 0.19% of CorMedix as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its holdings in CorMedix by 54.3% during the third 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. AlphaMark Advisors LLC lifted its stake in shares of CorMedix by 16.7% during the 4th quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company's stock valued at $113,000 after buying an additional 2,000 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in CorMedix by 2.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company's stock worth $1,214,000 after buying an additional 3,221 shares during the period. Rhumbline Advisers increased its stake in CorMedix by 8.6% in the 4th quarter. Rhumbline Advisers now owns 75,747 shares of the company's stock worth $614,000 after buying an additional 6,028 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in CorMedix by 130.3% during the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company's stock valued at $97,000 after acquiring an additional 6,761 shares during the period. 34.18% of the stock is currently owned by institutional investors.
CorMedix Price Performance
Shares of CorMedix stock traded up $0.21 during trading hours on Wednesday, reaching $7.00. The company's stock had a trading volume of 2,136,715 shares, compared to its average volume of 1,028,338. CorMedix Inc. has a one year low of $3.61 and a one year high of $13.85. The firm has a 50 day moving average price of $9.34 and a 200-day moving average price of $9.85. The stock has a market cap of $456.27 million, a P/E ratio of -8.64 and a beta of 1.57.
CorMedix (NASDAQ:CRMD - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. The company had revenue of $30.00 million for the quarter, compared to analysts' expectations of $27.46 million. The business's revenue was up 29900.0% compared to the same quarter last year. As a group, sell-side analysts forecast that CorMedix Inc. will post -0.32 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on CRMD shares. Leerink Partnrs upgraded CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. Leerink Partners assumed coverage on shares of CorMedix in a research report on Friday, March 7th. They set an "outperform" rating and a $18.00 price objective on the stock. StockNews.com raised shares of CorMedix from a "sell" rating to a "hold" rating in a report on Tuesday, April 1st. D. Boral Capital reiterated a "buy" rating and issued a $15.00 price target on shares of CorMedix in a report on Tuesday. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $12.00 price objective on shares of CorMedix in a report on Wednesday, March 26th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $15.14.
Read Our Latest Analysis on CRMD
About CorMedix
(
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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