Raymond James Financial Inc. Buys Shares of 115,661 CorMedix Inc. (NASDAQ:CRMD)

Raymond James Financial Inc. bought a new position in shares of CorMedix Inc. (NASDAQ:CRMD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 115,661 shares of the company’s stock, valued at approximately $937,000. Raymond James Financial Inc. owned 0.19% of CorMedix at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. AlphaMark Advisors LLC grew its position in shares of CorMedix by 16.7% in the fourth quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company’s stock valued at $113,000 after purchasing an additional 2,000 shares during the period. Steward Partners Investment Advisory LLC raised its position in CorMedix by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company’s stock valued at $1,214,000 after purchasing an additional 3,221 shares during the period. Invesco Ltd. lifted its stake in shares of CorMedix by 18.1% during the fourth quarter. Invesco Ltd. now owns 24,703 shares of the company’s stock worth $200,000 after purchasing an additional 3,784 shares in the last quarter. Texas Yale Capital Corp. boosted its position in shares of CorMedix by 25.0% in the fourth quarter. Texas Yale Capital Corp. now owns 20,000 shares of the company’s stock worth $162,000 after buying an additional 4,000 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of CorMedix by 8.6% in the fourth quarter. Rhumbline Advisers now owns 75,747 shares of the company’s stock valued at $614,000 after buying an additional 6,028 shares in the last quarter. 34.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRMD has been the subject of a number of recent analyst reports. StockNews.com upgraded CorMedix from a “sell” rating to a “hold” rating in a research note on Tuesday, April 1st. Leerink Partners assumed coverage on shares of CorMedix in a research note on Friday, March 7th. They issued an “outperform” rating and a $18.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price objective on shares of CorMedix in a research note on Wednesday, March 26th. Needham & Company LLC reissued a “buy” rating and issued a $12.00 target price on shares of CorMedix in a research report on Wednesday, April 9th. Finally, Leerink Partnrs raised shares of CorMedix to a “strong-buy” rating in a research report on Friday, March 7th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $14.50.

CorMedix Trading Down 3.7 %

CorMedix stock opened at $9.03 on Tuesday. The company has a market capitalization of $612.32 million, a P/E ratio of -11.15 and a beta of 1.54. CorMedix Inc. has a 1-year low of $3.61 and a 1-year high of $13.85. The firm’s fifty day simple moving average is $8.60 and its 200-day simple moving average is $9.75.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The firm 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% compared to the same quarter last year. On average, equities research analysts predict that CorMedix Inc. will post -0.32 earnings per share for the current year.

CorMedix Profile

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.