Barclays PLC Purchases 27,732 Shares of CorMedix Inc. (NASDAQ:CRMD)

Barclays PLC raised its position in shares of CorMedix Inc. (NASDAQ:CRMD) by 35.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,602 shares of the company’s stock after purchasing an additional 27,732 shares during the period. Barclays PLC owned approximately 0.17% of CorMedix worth $855,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CRMD. Raymond James Financial Inc. purchased a new position in CorMedix in the 4th quarter worth $937,000. Texas Yale Capital Corp. increased its holdings 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. Advisory Services Network LLC bought a new stake in shares of CorMedix in the 4th quarter valued at about $418,000. Renaissance Technologies LLC purchased a new stake in CorMedix during the 4th quarter valued at about $1,085,000. Finally, Invesco Ltd. grew its position in CorMedix by 18.1% during the 4th quarter. Invesco Ltd. now owns 24,703 shares of the company’s stock worth $200,000 after acquiring an additional 3,784 shares during the last quarter. Institutional investors own 34.18% of the company’s stock.

Analyst Upgrades and Downgrades

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

CorMedix Stock Performance

CorMedix stock opened at $11.16 on Wednesday. CorMedix Inc. has a fifty-two week low of $3.61 and a fifty-two week high of $13.85. The stock’s 50 day simple moving average is $8.62 and its two-hundred day simple moving average is $9.76. The stock has a market cap of $756.76 million, a price-to-earnings ratio of -13.78 and a beta of 1.54.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. The firm had revenue of $39.08 million for the quarter, compared to the consensus estimate of $38.90 million. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. On average, analysts predict 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.