Raymond James Financial Inc. Purchases New Holdings in CorMedix Inc. (NASDAQ:CRMD)

Raymond James Financial Inc. acquired a new position in shares of CorMedix Inc. (NASDAQ:CRMD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 115,661 shares of the company’s stock, valued at approximately $937,000. Raymond James Financial Inc. owned approximately 0.19% of CorMedix as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after acquiring an additional 1,625 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of CorMedix in the 4th quarter valued at about $81,000. Aigen Investment Management LP purchased a new stake in shares of CorMedix in the fourth quarter worth approximately $94,000. BNP Paribas Financial Markets boosted its holdings 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 purchasing an additional 6,761 shares during the period. Finally, Legato Capital Management LLC purchased a new position in CorMedix during the fourth quarter valued at approximately $97,000. 34.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 target price on shares of CorMedix in a research note on Wednesday, March 26th. Leerink Partners started coverage on CorMedix in a research note on Friday, March 7th. They issued an “outperform” rating and a $18.00 target price on the stock. StockNews.com raised CorMedix from a “sell” rating to a “hold” rating in a research note on Tuesday. Leerink Partnrs raised CorMedix to a “strong-buy” rating in a research note on Friday, March 7th. Finally, Needham & Company LLC cut their price objective on shares of CorMedix from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $15.14.

CorMedix Stock Down 3.9 %

Shares of CorMedix stock opened at $5.86 on Friday. CorMedix Inc. has a 12-month low of $3.61 and a 12-month high of $13.85. The stock has a 50 day moving average price of $9.81 and a two-hundred day moving average price of $9.86. The stock has a market capitalization of $381.97 million, a P/E ratio of -7.23 and a beta of 1.53.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. The firm had revenue of $30.00 million for the quarter, compared to the consensus estimate of $27.46 million. The firm’s quarterly revenue was up 29900.0% on a year-over-year basis. Sell-side analysts anticipate that CorMedix Inc. will post -0.32 earnings per share 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.