Charles Schwab Investment Management Inc. Purchases 17,869 Shares of CorMedix Inc. (NASDAQ:CRMD)

Charles Schwab Investment Management Inc. boosted its position in shares of CorMedix Inc. (NASDAQ:CRMD) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,418 shares of the company’s stock after acquiring an additional 17,869 shares during the period. Charles Schwab Investment Management Inc. owned 0.29% of CorMedix worth $1,413,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of CorMedix by 54.3% during the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after purchasing an additional 1,625 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in CorMedix in the fourth quarter valued at about $81,000. Legato Capital Management LLC purchased a new stake in CorMedix in the fourth quarter valued at about $97,000. BNP Paribas Financial Markets grew its stake in shares of CorMedix by 130.3% during the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock worth $97,000 after acquiring an additional 6,761 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of CorMedix during the fourth quarter valued at about $104,000. 34.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Leerink Partners began coverage on shares of CorMedix in a research note on Friday, March 7th. They issued an “outperform” rating and a $18.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price objective on shares of CorMedix in a report on Wednesday. Leerink Partnrs upgraded CorMedix to a “strong-buy” rating in a research note on Friday, March 7th. D. Boral Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of CorMedix in a research report on Tuesday, March 25th. Finally, Needham & Company LLC cut their price objective on CorMedix from $18.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.14.

CorMedix Stock Performance

Shares of CRMD opened at $6.74 on Friday. The business’s 50-day moving average is $10.43 and its two-hundred day moving average is $9.91. The company has a market capitalization of $408.96 million, a P/E ratio of -8.32 and a beta of 1.53. CorMedix Inc. has a fifty-two week low of $3.61 and a fifty-two week high of $13.85.

CorMedix (NASDAQ:CRMD) last posted its earnings results on Tuesday, March 25th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $30.00 million for the quarter, compared to analyst estimates of $27.46 million. The firm’s revenue for the quarter was up 29900.0% compared to the same quarter last year. Analysts forecast that CorMedix Inc. will post -0.32 EPS for the current year.

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. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.