CorMedix Inc $CRMD Shares Bought by Empowered Funds LLC

Empowered Funds LLC increased its holdings in CorMedix Inc (NASDAQ:CRMD) by 102.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 266,637 shares of the company’s stock after buying an additional 134,733 shares during the period. Empowered Funds LLC’s holdings in CorMedix were worth $1,810,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Financial Management Professionals Inc. bought a new position in CorMedix in the fourth quarter worth about $25,000. Comerica Bank grew its holdings in shares of CorMedix by 454.6% during the third quarter. Comerica Bank now owns 2,690 shares of the company’s stock valued at $31,000 after purchasing an additional 2,205 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of CorMedix during the 2nd quarter worth approximately $42,000. Kestra Advisory Services LLC acquired a new stake in shares of CorMedix during the 4th quarter worth approximately $49,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of CorMedix by 666.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 4,385 shares of the company’s stock worth $51,000 after purchasing an additional 3,813 shares during the last quarter. Institutional investors own 34.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRMD. Weiss Ratings raised shares of CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 14th. Citizens Jmp reiterated a “market outperform” rating and issued a $19.00 price objective on shares of CorMedix in a research report on Tuesday, April 28th. D. Boral Capital reissued a “buy” rating and set a $14.00 target price on shares of CorMedix in a research note on Monday, April 27th. Leerink Partners upped their target price on shares of CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Finally, Needham & Company LLC raised their price target on shares of CorMedix from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.86.

CorMedix Trading Up 1.3%

NASDAQ:CRMD opened at $7.51 on Friday. CorMedix Inc has a 1 year low of $6.13 and a 1 year high of $14.96. The stock has a market cap of $589.16 million, a price-to-earnings ratio of 3.53 and a beta of 1.50. The business has a fifty day moving average of $8.24 and a 200-day moving average of $7.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 2.97.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. CorMedix had a return on equity of 45.57% and a net margin of 45.25%.The company had revenue of $127.43 million for the quarter, compared to analyst estimates of $104.96 million. During the same period last year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up 226.1% compared to the same quarter last year. Equities analysts predict that CorMedix Inc will post 0.51 earnings per share for the current year.

CorMedix Company Profile

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.