Pacer Advisors Inc. Acquires New Stake in CorMedix Inc $CRMD

Pacer Advisors Inc. bought a new position in CorMedix Inc (NASDAQ:CRMD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 253,896 shares of the company’s stock, valued at approximately $2,953,000.

Other large investors have also recently made changes to their positions in the company. Deerfield Management Company L.P. bought a new position in shares of CorMedix in the third quarter worth about $38,656,000. Marshall Wace LLP increased its stake in CorMedix by 34.6% in the 3rd quarter. Marshall Wace LLP now owns 3,473,494 shares of the company’s stock worth $40,397,000 after buying an additional 893,518 shares during the period. UBS Group AG lifted its holdings in CorMedix by 295.3% during the 3rd quarter. UBS Group AG now owns 1,090,908 shares of the company’s stock valued at $12,687,000 after buying an additional 814,964 shares in the last quarter. Jump Financial LLC purchased a new stake in CorMedix in the 3rd quarter valued at about $9,003,000. Finally, Goldman Sachs Group Inc. grew its stake in CorMedix by 259.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 828,781 shares of the company’s stock worth $9,639,000 after acquiring an additional 597,971 shares in the last quarter. 34.18% of the stock is owned by hedge funds and other institutional investors.

CorMedix Trading Down 2.5%

NASDAQ CRMD opened at $8.60 on Wednesday. CorMedix Inc has a one year low of $6.13 and a one year high of $16.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 2.97. The company has a market capitalization of $674.67 million, a price-to-earnings ratio of 4.04 and a beta of 1.46. The company’s 50-day simple moving average is $8.02 and its two-hundred day simple moving average is $8.24.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.08. CorMedix had a net margin of 45.25% and a return on equity of 45.57%. The firm had revenue of $127.43 million during the quarter, compared to analysts’ expectations of $104.96 million. During the same quarter in the prior year, the company earned $0.30 EPS. The company’s revenue was up 226.1% compared to the same quarter last year. Equities analysts forecast that CorMedix Inc will post 0.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on CRMD. Weiss Ratings raised shares of CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Zacks Research raised CorMedix from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Royal Bank Of Canada restated an “outperform” rating and set a $14.00 price objective (up from $13.00) on shares of CorMedix in a report on Tuesday, April 28th. Leerink Partners lifted their target price on CorMedix from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $19.00 target price on shares of CorMedix in a report on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, CorMedix presently has an average rating of “Moderate Buy” and an average price target of $15.00.

CorMedix Profile

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.