CorMedix Inc $CRMD Holdings Boosted by Profund Advisors LLC

Profund Advisors LLC boosted its stake in CorMedix Inc (NASDAQ:CRMD) by 458.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,465 shares of the company’s stock after acquiring an additional 104,629 shares during the period. Profund Advisors LLC owned 0.16% of CorMedix worth $981,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of CorMedix in the second quarter valued at about $49,644,000. Bank of New York Mellon Corp acquired a new position in shares of CorMedix during the second quarter worth about $3,108,000. Pacer Advisors Inc. increased its stake in shares of CorMedix by 128.7% during the first quarter. Pacer Advisors Inc. now owns 580,620 shares of the company’s stock worth $3,942,000 after acquiring an additional 326,724 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in CorMedix by 150.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 438,629 shares of the company’s stock worth $3,443,000 after purchasing an additional 263,618 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in CorMedix during the second quarter worth about $1,909,000. 34.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CRMD shares. Weiss Ratings raised CorMedix from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Needham & Company LLC dropped their target price on CorMedix from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday. Oppenheimer assumed coverage on CorMedix in a research note on Wednesday, September 23rd. They set an “outperform” rating and a $15.00 target price for the company. Finally, Royal Bank Of Canada raised their price target on CorMedix from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.62.

CorMedix Stock Up 3.2%

Shares of NASDAQ CRMD opened at $5.56 on Wednesday. The company has a quick ratio of 2.36, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. CorMedix Inc has a 52 week low of $5.30 and a 52 week high of $13.02. The firm has a 50-day moving average price of $7.69 and a 200 day moving average price of $7.65. The stock has a market capitalization of $433.35 million, a price-to-earnings ratio of 2.84, a price-to-earnings-growth ratio of 1.01 and a beta of 1.48.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. CorMedix had a net margin of 40.49% and a return on equity of 40.52%. The firm had revenue of $101.93 million for the quarter, compared to the consensus estimate of $96.04 million. Equities research analysts anticipate that CorMedix Inc will post 0.54 EPS for the current fiscal year.

CorMedix Profile

CorMedix Inc is a biopharmaceutical company focused on developing and commercializing products designed to prevent and treat life-threatening infections and inflammatory conditions. The company’s lead product is DefenCath, a catheter-lock solution containing taurolidine and citrate.

DefenCath is approved by the U.S. Food and Drug Administration for use in adult patients with kidney failure who are receiving chronic hemodialysis through a central venous catheter. It is intended to reduce the risk of catheter-related bloodstream infections, a significant complication for patients who depend on long-term vascular access.