Empowered Funds LLC acquired a new stake in CorMedix Inc (NASDAQ:CRMD – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 243,232 shares of the company’s stock, valued at approximately $1,909,000.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in CorMedix during the second quarter worth about $49,644,000. Vanguard Group Inc. raised its stake in shares of CorMedix by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 4,499,010 shares of the company’s stock valued at $52,323,000 after acquiring an additional 521,352 shares during the period. Marshall Wace LLP lifted its holdings in shares of CorMedix by 34.6% in the 3rd quarter. Marshall Wace LLP now owns 3,473,494 shares of the company’s stock worth $40,397,000 after acquiring an additional 893,518 shares during the last quarter. Deerfield Management Company L.P. acquired a new position in shares of CorMedix in the 3rd quarter worth approximately $38,656,000. Finally, State Street Corp boosted its position in shares of CorMedix by 4.6% during the 4th quarter. State Street Corp now owns 1,920,861 shares of the company’s stock worth $22,340,000 after purchasing an additional 85,240 shares during the period. Institutional investors and hedge funds own 34.18% of the company’s stock.
Analyst Ratings Changes
CRMD has been the subject of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of CorMedix in a report on Tuesday, August 11th. Zacks Research upgraded CorMedix from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Royal Bank Of Canada raised their price target on CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.
CorMedix Stock Down 1.6%
Shares of NASDAQ:CRMD opened at $8.47 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 2.36. The firm has a market capitalization of $660.15 million, a PE ratio of 3.96 and a beta of 1.50. The firm’s 50-day moving average is $8.06 and its two-hundred day moving average is $7.71. CorMedix Inc has a 1 year low of $6.13 and a 1 year high of $13.93.
CorMedix (NASDAQ:CRMD – Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. CorMedix had a net margin of 40.49% and a return on equity of 40.52%. The business had revenue of $101.93 million for the quarter, compared to analysts’ expectations of $96.04 million. Analysts predict that CorMedix Inc will post 0.54 EPS for the current year.
About CorMedix
CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.
In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.
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