Sanctuary Advisors LLC Grows Position in CorMedix Inc $CRMD

Sanctuary Advisors LLC boosted its position in CorMedix Inc (NASDAQ:CRMD) by 1,050.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 134,669 shares of the company’s stock after acquiring an additional 122,961 shares during the period. Sanctuary Advisors LLC’s holdings in CorMedix were worth $1,566,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CRMD. Russell Investments Group Ltd. boosted its position in CorMedix by 22.2% in 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. Palisades Investment Partners LLC increased its stake in shares of CorMedix by 0.3% in the 3rd quarter. Palisades Investment Partners LLC now owns 564,106 shares of the company’s stock worth $6,561,000 after acquiring an additional 1,579 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CorMedix by 4.7% in the 1st 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 during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of CorMedix by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,540 shares of the company’s stock worth $310,000 after purchasing an additional 1,707 shares during the last quarter. Finally, Texas Yale Capital Corp. grew its position in CorMedix by 9.1% in the 3rd quarter. Texas Yale Capital Corp. now owns 24,000 shares of the company’s stock valued at $279,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 34.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRMD shares. Needham & Company LLC lifted 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 restated an “outperform” rating and set a $14.00 price target (up from $13.00) on shares of CorMedix in a research note on Tuesday, April 28th. Zacks Research cut CorMedix from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 10th. HC Wainwright decreased their price objective on CorMedix from $18.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Finally, Leerink Partners raised their price target on CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

CorMedix Stock Up 1.4%

CRMD opened at $7.90 on Tuesday. CorMedix Inc has a one year low of $6.13 and a one year high of $17.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.94 and a current ratio of 2.11. The stock’s fifty day moving average is $6.98 and its 200-day moving average is $8.85. The company has a market capitalization of $619.68 million, a PE ratio of 3.95 and a beta of 1.46.

CorMedix (NASDAQ:CRMD) last announced its earnings results on Thursday, March 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.70). CorMedix had a return on equity of 52.30% and a net margin of 52.31%.The company had revenue of $128.62 million for the quarter, compared to analyst estimates of $127.02 million. During the same period last year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up 312.1% on a year-over-year basis. On average, equities analysts predict that CorMedix Inc will post 0.44 EPS for the current fiscal year.

CorMedix announced that its board has initiated a stock repurchase program on Monday, February 2nd that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to buy up to 12.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

CorMedix 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.