Round Rock Advisors LLC Makes New Investment in CorMedix Inc $CRMD

Round Rock Advisors LLC purchased a new position in CorMedix Inc (NASDAQ:CRMD) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 92,004 shares of the company’s stock, valued at approximately $1,044,000.

Several other institutional investors also recently bought and sold shares of CRMD. Financial Management Professionals Inc. purchased a new stake in shares of CorMedix in the fourth quarter valued at approximately $25,000. Phocas Financial Corp. acquired a new stake in CorMedix during the 4th quarter worth approximately $1,990,000. State of Alaska Department of Revenue lifted its position in CorMedix by 951.5% during the 4th quarter. State of Alaska Department of Revenue now owns 49,358 shares of the company’s stock worth $573,000 after acquiring an additional 44,664 shares during the period. Palisades Investment Partners LLC lifted its position in CorMedix by 2.2% during the 4th quarter. Palisades Investment Partners LLC now owns 576,759 shares of the company’s stock worth $6,708,000 after acquiring an additional 12,653 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in CorMedix by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 30,245 shares of the company’s stock worth $368,000 after acquiring an additional 2,646 shares during the period. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRMD. Leerink Partners reaffirmed an “outperform” rating and set a $13.00 price objective on shares of CorMedix in a research report on Friday, March 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CorMedix in a research report on Wednesday, January 21st. Zacks Research cut CorMedix from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 10th. Royal Bank Of Canada set a $13.00 price objective on CorMedix and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Finally, Needham & Company LLC decreased their price objective on CorMedix from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

CorMedix Trading Up 2.6%

NASDAQ:CRMD opened at $7.58 on Tuesday. The stock has a fifty day moving average price of $6.95 and a two-hundred day moving average price of $9.05. The stock has a market capitalization of $599.20 million, a price-to-earnings ratio of 3.79 and a beta of 1.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.94 and a current ratio of 2.11. CorMedix Inc has a 1 year low of $6.13 and a 1 year high of $17.43.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings data on Thursday, March 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.70). The business had revenue of $128.62 million during the quarter, compared to analysts’ expectations of $127.02 million. CorMedix had a return on equity of 52.30% and a net margin of 52.31%.The company’s revenue was up 312.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. As a group, sell-side analysts anticipate that CorMedix Inc will post 0.67 earnings per share for the current fiscal year.

CorMedix declared that its board has initiated a stock buyback program on Monday, February 2nd that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to buy up to 12.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.