CorMedix Inc. (NYSEAMERICAN:CRMD) has been assigned an average recommendation of “Buy” from the six research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $21.13.
CRMD has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of CorMedix from a “sell” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC dropped their price target on shares of CorMedix from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, May 14th.
CRMD stock traded down $0.12 during mid-day trading on Friday, reaching $6.50. 546 shares of the stock traded hands, compared to its average volume of 325,728. CorMedix has a 52 week low of $3.86 and a 52 week high of $18.80. The stock has a 50-day simple moving average of $8.09. The company has a market cap of $247.33 million, a price-to-earnings ratio of -8.83 and a beta of 2.30.
In related news, Director Myron Kaplan purchased 15,000 shares of the firm’s stock in a transaction dated Monday, May 17th. The shares were acquired at an average cost of $6.03 per share, with a total value of $90,450.00. Following the completion of the purchase, the director now directly owns 165,034 shares of the company’s stock, valued at $995,155.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.00% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Citigroup Inc. boosted its stake in CorMedix by 294.8% in the fourth quarter. Citigroup Inc. now owns 5,843 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 4,363 shares during the last quarter. UBS Group AG raised its holdings in CorMedix by 32.4% in the first quarter. UBS Group AG now owns 9,674 shares of the biotechnology company’s stock worth $97,000 after purchasing an additional 2,366 shares during the period. GSA Capital Partners LLP acquired a new stake in CorMedix in the first quarter worth $146,000. Lido Advisors LLC acquired a new stake in CorMedix in the first quarter worth $151,000. Finally, HighTower Advisors LLC acquired a new stake in CorMedix in the fourth quarter worth $121,000. 28.34% of the stock is currently owned by hedge funds and other institutional investors.
CorMedix Company Profile
CorMedix, Inc operates as a pharmaceutical and medical device company. The firm seeks to license, develop and commercialize prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases. It is developing its product Neutrolin, a novel, non-antibiotic antimicrobial solution designed to prevent costly and dangerous bloodstream infections associated with the use of central venous catheters.
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