Texas Yale Capital Corp. Grows Stake in CorMedix Inc. (NASDAQ:CRMD)

Texas Yale Capital Corp. lifted its stake in CorMedix Inc. (NASDAQ:CRMD) by 25.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,000 shares of the company’s stock after buying an additional 4,000 shares during the quarter. Texas Yale Capital Corp.’s holdings in CorMedix were worth $162,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of CorMedix by 10.1% in the 4th quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company’s stock worth $27,363,000 after purchasing an additional 309,514 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of CorMedix by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 1,392,820 shares of the company’s stock valued at $11,284,000 after buying an additional 108,356 shares during the last quarter. State Street Corp increased its holdings in CorMedix by 0.8% in the 3rd quarter. State Street Corp now owns 1,225,756 shares of the company’s stock worth $9,904,000 after buying an additional 10,204 shares in the last quarter. JPMorgan Chase & Co. raised its position in CorMedix by 40.8% in the 4th quarter. JPMorgan Chase & Co. now owns 273,218 shares of the company’s stock worth $2,213,000 after buying an additional 79,110 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in CorMedix by 130.7% during the 3rd quarter. Wellington Management Group LLP now owns 180,948 shares of the company’s stock valued at $1,462,000 after acquiring an additional 102,527 shares during the period. Institutional investors own 34.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CRMD. Leerink Partnrs raised shares of CorMedix to a “strong-buy” rating in a report on Friday, March 7th. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price target on shares of CorMedix in a research note on Wednesday, March 26th. Leerink Partners assumed coverage on CorMedix in a research report on Friday, March 7th. They set an “outperform” rating and a $18.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $12.00 target price on shares of CorMedix in a report on Wednesday. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of CorMedix in a research report on Tuesday. One equities 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, CorMedix currently has a consensus rating of “Buy” and a consensus price target of $14.50.

CorMedix Stock Performance

NASDAQ CRMD opened at $6.84 on Friday. The business’s fifty day moving average is $9.28 and its 200 day moving average is $9.84. The company has a market capitalization of $445.84 million, a PE ratio of -8.44 and a beta of 1.57. CorMedix Inc. has a fifty-two week low of $3.61 and a fifty-two week high of $13.85.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The company had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $27.46 million. The firm’s quarterly revenue was up 29900.0% on a year-over-year basis. On average, sell-side analysts forecast that CorMedix Inc. will post -0.32 EPS 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.