Intech Investment Management LLC Has $195,000 Stock Position in CorMedix Inc. (NASDAQ:CRMD)

Intech Investment Management LLC boosted its stake in shares of CorMedix Inc. (NASDAQ:CRMD) by 63.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 24,063 shares of the company’s stock after purchasing an additional 9,368 shares during the quarter. Intech Investment Management LLC’s holdings in CorMedix were worth $195,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. FMR LLC increased its position in shares of CorMedix by 54.3% in the third 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 CorMedix in the 4th quarter worth approximately $81,000. Aigen Investment Management LP purchased a new position in CorMedix during the 4th quarter worth approximately $94,000. Legato Capital Management LLC acquired a new stake in CorMedix during the 4th quarter valued at $97,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of CorMedix by 130.3% in the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock valued at $97,000 after purchasing an additional 6,761 shares in the last quarter. 34.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

CorMedix Price Performance

CorMedix stock opened at $6.71 on Friday. CorMedix Inc. has a one year low of $3.61 and a one year high of $13.85. The company’s fifty day moving average price is $10.54 and its two-hundred day moving average price is $9.88. The company has a market capitalization of $407.14 million, a price-to-earnings ratio of -8.28 and a beta of 1.53.

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

About CorMedix

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.