CorMedix’s (CRMD) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of CorMedix (NYSEAMERICAN:CRMD) in a report published on Thursday morning, AnalystRatings.com reports.

Several other brokerages have also recently issued reports on CRMD. B. Riley raised their target price on shares of CorMedix from $10.00 to $12.00 and gave the stock a buy rating in a report on Tuesday, May 12th. Zacks Investment Research cut shares of CorMedix from a buy rating to a hold rating in a report on Friday, May 29th.

Shares of NYSEAMERICAN CRMD opened at $6.14 on Thursday. CorMedix has a one year low of $2.16 and a one year high of $9.93.

CorMedix (NYSEAMERICAN:CRMD) last issued its quarterly earnings results on Monday, May 11th. The biotechnology company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.15 million.

In other news, Director Myron Kaplan acquired 10,000 shares of the stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $3.85 per share, with a total value of $38,500.00. Following the completion of the transaction, the director now owns 119,734 shares of the company’s stock, valued at approximately $460,975.90. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in CorMedix by 6.4% in the 1st quarter. Bank of New York Mellon Corp now owns 89,887 shares of the biotechnology company’s stock worth $322,000 after purchasing an additional 5,446 shares in the last quarter. State Street Corp raised its holdings in shares of CorMedix by 2.3% during the 1st quarter. State Street Corp now owns 455,277 shares of the biotechnology company’s stock worth $1,634,000 after acquiring an additional 10,151 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in CorMedix during the 1st quarter valued at $77,000. Nuveen Asset Management LLC raised its holdings in CorMedix by 16.3% during the 1st quarter. Nuveen Asset Management LLC now owns 187,925 shares of the biotechnology company’s stock valued at $675,000 after buying an additional 26,326 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in CorMedix by 8.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,892 shares of the biotechnology company’s stock valued at $437,000 after acquiring an additional 4,911 shares during the last quarter.

About CorMedix

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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