CorMedix (NASDAQ:CRMD) Director Sells $260,000.00 in Stock

CorMedix Inc (NASDAQ:CRMD) Director Alan Dunton sold 20,000 shares of the company’s stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $13.00, for a total value of $260,000.00. Following the sale, the director directly owned 40,250 shares in the company, valued at $523,250. This represents a 33.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

CorMedix Trading Up 4.6%

NASDAQ:CRMD opened at $12.16 on Monday. The firm has a market cap of $958.09 million, a PE ratio of 5.90 and a beta of 1.36. The stock has a fifty day moving average price of $11.09 and a 200 day moving average price of $11.74. CorMedix Inc has a 12-month low of $5.60 and a 12-month high of $17.43. The company has a current ratio of 1.94, a quick ratio of 1.73 and a debt-to-equity ratio of 0.39.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.78. The company had revenue of $104.28 million for the quarter, compared to the consensus estimate of $65.63 million. CorMedix had a return on equity of 51.77% and a net margin of 75.83%.CorMedix’s revenue was up 810.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) EPS. Sell-side analysts anticipate that CorMedix Inc will post -0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CRMD. Royal Bank Of Canada reiterated an “outperform” rating and issued a $22.00 price target (up previously from $21.00) on shares of CorMedix in a research note on Tuesday, October 21st. Wall Street Zen lowered shares of CorMedix from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. JMP Securities reiterated a “market outperform” rating and set a $22.00 target price on shares of CorMedix in a research note on Tuesday, September 9th. D. Boral Capital reissued a “buy” rating and issued a $14.00 target price on shares of CorMedix in a report on Thursday, December 18th. Finally, Zacks Research upgraded CorMedix from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $18.33.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CRMD. Marshall Wace LLP raised its stake in CorMedix by 34.6% during the 3rd quarter. Marshall Wace LLP now owns 3,473,494 shares of the company’s stock worth $40,397,000 after acquiring an additional 893,518 shares in the last quarter. Deerfield Management Company L.P. purchased a new position in shares of CorMedix during the third quarter worth about $38,656,000. Geode Capital Management LLC increased its position in shares of CorMedix by 11.4% during the second quarter. Geode Capital Management LLC now owns 1,596,322 shares of the company’s stock worth $19,669,000 after purchasing an additional 163,403 shares in the last quarter. Alyeska Investment Group L.P. increased its position in shares of CorMedix by 68.4% during the third quarter. Alyeska Investment Group L.P. now owns 1,262,979 shares of the company’s stock worth $14,688,000 after purchasing an additional 512,979 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of CorMedix by 295.3% in the 3rd quarter. UBS Group AG now owns 1,090,908 shares of the company’s stock valued at $12,687,000 after purchasing an additional 814,964 shares during the last quarter. Institutional investors and hedge funds own 34.18% of the company’s stock.

About CorMedix

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.