Zurcher Kantonalbank Zurich Cantonalbank Invests $93,000 in CorMedix Inc (NASDAQ:CRMD)

Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CorMedix Inc (NASDAQ:CRMD) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,140 shares of the company’s stock, valued at approximately $93,000.

A number of other large investors have also modified their holdings of the business. SBI Securities Co. Ltd. boosted its position in CorMedix by 699.7% in the first quarter. SBI Securities Co. Ltd. now owns 8,685 shares of the company’s stock valued at $54,000 after buying an additional 7,599 shares during the last quarter. Essex Financial Services Inc. purchased a new stake in CorMedix in the first quarter valued at approximately $63,000. Captrust Financial Advisors purchased a new stake in CorMedix in the fourth quarter valued at approximately $90,000. KLP Kapitalforvaltning AS purchased a new stake in CorMedix in the first quarter valued at approximately $72,000. Finally, XTX Topco Ltd purchased a new stake in CorMedix in the fourth quarter valued at approximately $95,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.

CorMedix Stock Performance

Shares of CRMD opened at $10.33 on Monday. CorMedix Inc has a one year low of $3.61 and a one year high of $17.43. The stock has a market capitalization of $771.13 million, a price-to-earnings ratio of 13.77 and a beta of 1.71. The stock has a 50 day moving average price of $12.52 and a 200 day moving average price of $10.79.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.20 by $0.08. CorMedix had a return on equity of 42.73% and a net margin of 42.11%. The firm had revenue of $39.74 million during the quarter, compared to analysts’ expectations of $29.88 million. During the same period in the previous year, the business earned ($0.25) earnings per share. The firm’s revenue for the quarter was up 4830.1% on a year-over-year basis. On average, analysts predict that CorMedix Inc will post -0.32 earnings per share for the current year.

Analyst Ratings Changes

CRMD has been the subject of a number of analyst reports. Royal Bank Of Canada raised CorMedix from an “outperform” rating to a “moderate buy” rating and boosted their price target for the company from $13.00 to $17.00 in a report on Friday, June 20th. Needham & Company LLC upped their target price on CorMedix from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 24th. HC Wainwright reduced their target price on CorMedix from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Friday. D. Boral Capital downgraded CorMedix from a “buy” rating to a “hold” rating in a research note on Monday, June 30th. Finally, D Boral Capital downgraded CorMedix from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 30th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CorMedix presently has an average rating of “Moderate Buy” and an average price target of $16.71.

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.