Teacher Retirement System of Texas Buys Shares of 15,981 CorMedix Inc (NASDAQ:CRMD)

Teacher Retirement System of Texas bought a new position in CorMedix Inc (NASDAQ:CRMD) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,981 shares of the company’s stock, valued at approximately $98,000.

A number of other large investors have also recently made changes to their positions in CRMD. Essex Financial Services Inc. purchased a new stake in shares of CorMedix in the first quarter worth about $63,000. Captrust Financial Advisors purchased a new stake in CorMedix during the 4th quarter valued at about $90,000. XTX Topco Ltd acquired a new stake in shares of CorMedix in the fourth quarter valued at approximately $95,000. Ameriprise Financial Inc. acquired a new position in shares of CorMedix during the 4th quarter valued at about $103,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of CorMedix in the 4th quarter valued at approximately $114,000. 34.18% of the stock is owned by hedge funds and other institutional investors.

CorMedix Trading Up 0.7%

Shares of CorMedix stock opened at $10.94 on Tuesday. CorMedix Inc has a 1 year low of $3.61 and a 1 year high of $17.43. The company has a market cap of $741.95 million, a P/E ratio of 49.73 and a beta of 1.58. The stock has a 50-day moving average price of $12.72 and a 200 day moving average price of $10.77.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. The business had revenue of $39.08 million during the quarter, compared to analyst estimates of $38.90 million. CorMedix had a return on equity of 22.57% and a net margin of 20.81%. During the same period last year, the company earned ($0.25) earnings per share. On average, equities analysts forecast that CorMedix Inc will post -0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. D Boral Capital cut CorMedix from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 30th. HC Wainwright assumed coverage on shares of CorMedix in a research report on Monday, June 30th. They issued a “buy” rating and a $20.00 price objective on the stock. D. Boral Capital downgraded CorMedix from a “buy” rating to a “hold” rating in a research report on Monday, June 30th. Needham & Company LLC upped their target price on shares of CorMedix from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 24th. Finally, Wall Street Zen raised shares of CorMedix from a “sell” rating to a “hold” rating in a research report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CorMedix currently has an average rating of “Moderate Buy” and an average target price of $17.14.

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.