CorMedix’s (CRMD) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of CorMedix (NYSEAMERICAN:CRMD) in a research report released on Monday morning, TipRanks reports. HC Wainwright currently has a $14.00 target price on the biotechnology company’s stock.

A number of other research firms have also recently issued reports on CRMD. Zacks Investment Research raised CorMedix from a sell rating to a hold rating in a research report on Monday, October 21st. TheStreet cut CorMedix from a c- rating to a d+ rating in a research report on Monday, October 7th.

CRMD opened at $6.06 on Monday. CorMedix has a 1 year low of $4.86 and a 1 year high of $13.70.

CorMedix (NYSEAMERICAN:CRMD) last released its quarterly earnings data on Thursday, November 14th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.03. The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.19 million.

In related news, Director Myron Kaplan purchased 5,000 shares of CorMedix stock in a transaction on Monday, September 30th. The stock was bought at an average price of $6.81 per share, with a total value of $34,050.00. Following the completion of the transaction, the director now directly owns 109,734 shares of the company’s stock, valued at $747,288.54. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Hudson Executive Capital Lp purchased 1,801,000 shares of CorMedix stock in a transaction on Thursday, September 26th. The stock was bought at an average cost of $6.75 per share, with a total value of $12,156,750.00. Insiders acquired 1,812,000 shares of company stock valued at $12,231,430 in the last ninety days.

Large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new position in shares of CorMedix during the 3rd quarter worth about $29,000. JPMorgan Chase & Co. acquired a new position in shares of CorMedix during the 2nd quarter worth about $49,000. Essex Financial Services Inc. acquired a new position in shares of CorMedix during the 3rd quarter worth about $64,000. Wealthstreet Investment Advisors LLC lifted its position in shares of CorMedix by 15.1% during the 3rd quarter. Wealthstreet Investment Advisors LLC now owns 18,700 shares of the biotechnology company’s stock worth $108,000 after purchasing an additional 2,460 shares during the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of CorMedix during the 2nd quarter worth about $108,000.

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 and internationally. It primarily focuses on the development of its lead product candidate, Neutrolin, an anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as dialysis, critical/intensive care, and oncology.

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