Pacer Advisors Inc. Has $3.94 Million Stock Holdings in CorMedix Inc $CRMD

Pacer Advisors Inc. raised its position in CorMedix Inc (NASDAQ:CRMD) by 128.7% during the first quarter, Holdings Channel reports. The institutional investor owned 580,620 shares of the company’s stock after buying an additional 326,724 shares during the quarter. Pacer Advisors Inc.’s holdings in CorMedix were worth $3,942,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in shares of CorMedix during the fourth quarter worth $25,000. Comerica Bank boosted its holdings in CorMedix by 454.6% in the third quarter. Comerica Bank now owns 2,690 shares of the company’s stock valued at $31,000 after acquiring an additional 2,205 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in CorMedix in the second quarter valued at about $42,000. Kestra Advisory Services LLC acquired a new stake in CorMedix in the fourth quarter worth about $49,000. Finally, Caitong International Asset Management Co. Ltd increased its position in CorMedix by 666.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 4,385 shares of the company’s stock worth $51,000 after purchasing an additional 3,813 shares during the period. 34.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CRMD shares. Needham & Company LLC upped their target price on shares of CorMedix from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, April 27th. D. Boral Capital reiterated a “buy” rating and set a $14.00 price target on shares of CorMedix in a research report on Monday, April 27th. Weiss Ratings raised shares of CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 14th. Royal Bank Of Canada cut their price objective on shares of CorMedix from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Finally, Zacks Research raised shares of CorMedix from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.86.

CorMedix Trading Up 1.3%

NASDAQ CRMD opened at $7.51 on Friday. CorMedix Inc has a 12 month low of $6.13 and a 12 month high of $14.96. The stock has a 50-day simple moving average of $8.24 and a 200 day simple moving average of $7.63. The company has a current ratio of 2.97, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $589.16 million, a PE ratio of 3.53 and a beta of 1.50.

CorMedix (NASDAQ:CRMD) last issued its earnings results on Thursday, May 14th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.08. The firm had revenue of $127.43 million for the quarter, compared to analysts’ expectations of $104.96 million. CorMedix had a return on equity of 45.57% and a net margin of 45.25%.The company’s revenue was up 226.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. Research analysts forecast that CorMedix Inc will post 0.51 EPS for the current year.

CorMedix Company 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.