CorMedix Inc. (NYSEAMERICAN:CRMD) traded up 0.6% during mid-day trading on Wednesday . The company traded as high as $3.08 and last traded at $3.10, 22,427 shares traded hands during trading. A decline of 92% from the average session volume of 282,956 shares. The stock had previously closed at $3.08.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of CorMedix from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research note on Wednesday. B. Riley dropped their price objective on shares of CorMedix from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of CorMedix in a research note on Wednesday, March 18th.
CorMedix (NYSEAMERICAN:CRMD) last announced its earnings results on Monday, March 16th. The biotechnology company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.03. The firm had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.10 million.
Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new stake in CorMedix in the third quarter valued at approximately $29,000. Citigroup Inc. boosted its stake in CorMedix by 340.9% in the fourth quarter. Citigroup Inc. now owns 5,150 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 3,982 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in CorMedix in the fourth quarter valued at approximately $50,000. California Public Employees Retirement System acquired a new stake in CorMedix in the fourth quarter valued at approximately $122,000. Finally, Wealthstreet Investment Advisors LLC raised its holdings in shares of CorMedix by 8.0% in the fourth quarter. Wealthstreet Investment Advisors LLC now owns 20,200 shares of the biotechnology company’s stock worth $147,000 after buying an additional 1,500 shares during the last quarter.
About CorMedix (NYSEAMERICAN:CRMD)
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 and internationally. It primarily focuses on the development of its lead product candidate, Neutrolin, an anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as dialysis, critical/intensive care, and oncology.
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