Janney Montgomery Scott LLC Has $115,000 Stock Holdings in CorMedix Inc $CRMD

Janney Montgomery Scott LLC trimmed its holdings in CorMedix Inc (NASDAQ:CRMD) by 83.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,998 shares of the company’s stock after selling 86,302 shares during the period. Janney Montgomery Scott LLC’s holdings in CorMedix were worth $115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of CorMedix by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,987 shares of the company’s stock worth $222,000 after acquiring an additional 1,631 shares in the last quarter. Legal & General Group Plc lifted its position in CorMedix by 17.1% in the 2nd quarter. Legal & General Group Plc now owns 62,620 shares of the company’s stock valued at $771,000 after acquiring an additional 9,155 shares in the last quarter. Rhumbline Advisers boosted its stake in CorMedix by 13.9% during the 2nd quarter. Rhumbline Advisers now owns 92,905 shares of the company’s stock valued at $1,145,000 after purchasing an additional 11,340 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in CorMedix by 22.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock worth $81,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in CorMedix during the 2nd quarter worth approximately $199,000. 34.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CRMD shares. Leerink Partners raised their target price on CorMedix from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Citizens Jmp reiterated a “market outperform” rating and set a $19.00 price target on shares of CorMedix in a report on Tuesday, April 28th. Needham & Company LLC raised their price objective on CorMedix from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, April 27th. 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, Weiss Ratings upgraded shares of CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 14th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, CorMedix presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.86.

CorMedix Price Performance

Shares of NASDAQ CRMD opened at $7.78 on Tuesday. CorMedix Inc has a twelve month low of $6.13 and a twelve month high of $14.96. The stock’s 50 day moving average price is $8.33 and its 200-day moving average price is $7.78. The company has a market capitalization of $610.34 million, a PE ratio of 3.65 and a beta of 1.48. The company has a quick ratio of 2.74, a current ratio of 2.97 and a debt-to-equity ratio of 0.33.

CorMedix (NASDAQ:CRMD) last released its earnings results on Thursday, May 14th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.08. The company had revenue of $127.43 million during the quarter, compared to analyst estimates of $104.96 million. CorMedix had a return on equity of 45.57% and a net margin of 45.25%.CorMedix’s quarterly revenue was up 226.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 earnings per share. On average, equities analysts anticipate 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.