CorMedix (NYSEAMERICAN:CRMD) Rating Lowered to Sell at Zacks Investment Research
According to Zacks, “CorMedix Inc. is a development-stage pharmaceutical company that seeks to in-license, develop and commercialize therapeutic products for the treatment of cardiac and renal dysfunction, also known as cardiorenal disease. CorMedix’s goal is to treat kidney disease by reducing the commonly associated cardiovascular and metabolic complications. The Company’s therapeutic candidates for cardiorenal disease may be small molecules, biologicals, devices and/or diagnostics (tests) that enable therapy. Its product pipeline includes: CRMD001, a unique formulation Deferiprone which is in development to prevent Contrast-Induced Acute Kidney Injury and to slow progression of Chronic Kidney Disease; CRMD002, a diagnostic test for urinary labile iron; CRMD003 (Neutrolin®, an antimicrobial/anticoagulant solution) is in development to prevent Catheter Related Bloodstream Infection; CRMD004, a pressure sensitive gel which has many uses, including extending the benefits of Neutrolin®. CorMedix Inc. is based in Summit, New Jersey. “
A number of other analysts have also issued reports on the stock. B. Riley started coverage on shares of CorMedix in a research report on Wednesday, December 18th. They set a “buy” rating and a $48.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of CorMedix in a research report on Monday, December 2nd. Finally, TheStreet lowered shares of CorMedix from a “c-” rating to a “d+” rating in a research report on Monday, October 7th.
CorMedix (NYSEAMERICAN:CRMD) last announced its earnings results on Thursday, November 14th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.03. The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.19 million.
In related news, Director Mehmood Khan purchased 17,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were bought at an average price of $6.58 per share, with a total value of $111,860.00. Following the completion of the purchase, the director now directly owns 133,017 shares in the company, valued at approximately $875,251.86. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of large investors have recently bought and sold shares of CRMD. Tower Research Capital LLC TRC purchased a new position in shares of CorMedix in the 3rd quarter valued at $29,000. JPMorgan Chase & Co. purchased a new position in shares of CorMedix in the 2nd quarter valued at $49,000. Essex Financial Services Inc. purchased a new position in shares of CorMedix in the 3rd quarter valued at $64,000. Wealthstreet Investment Advisors LLC raised its stake in shares of CorMedix by 15.1% in the 3rd quarter. Wealthstreet Investment Advisors LLC now owns 18,700 shares of the biotechnology company’s stock valued at $108,000 after acquiring an additional 2,460 shares during the period. Finally, Millennium Management LLC raised its stake in shares of CorMedix by 64.2% in the 3rd quarter. Millennium Management LLC now owns 25,319 shares of the biotechnology company’s stock valued at $161,000 after acquiring an additional 9,902 shares during the period.
CorMedix Company 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 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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