CorMedix Inc $CRMD Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. boosted its stake in CorMedix Inc (NASDAQ:CRMD) by 150.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 438,629 shares of the company’s stock after acquiring an additional 263,618 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in CorMedix were worth $3,443,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new stake in shares of CorMedix during the 4th quarter worth about $25,000. Comerica Bank boosted its holdings in shares of CorMedix by 454.6% in the third quarter. Comerica Bank now owns 2,690 shares of the company’s stock valued at $31,000 after acquiring an additional 2,205 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of CorMedix during the second quarter valued at approximately $42,000. Kestra Advisory Services LLC acquired a new position in shares of CorMedix during the fourth quarter valued at approximately $49,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in CorMedix by 666.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 4,385 shares of the company’s stock worth $51,000 after purchasing an additional 3,813 shares in the last quarter. Institutional investors and hedge funds own 34.18% of the company’s stock.

CorMedix Stock Performance

Shares of NASDAQ CRMD opened at $7.53 on Tuesday. The company has a quick ratio of 2.74, a current ratio of 2.97 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $590.73 million, a price-to-earnings ratio of 3.54 and a beta of 1.50. The stock’s fifty day simple moving average is $8.21 and its 200 day simple moving average is $7.64. CorMedix Inc has a 52-week low of $6.13 and a 52-week high of $14.96.

CorMedix (NASDAQ:CRMD) last announced its earnings results on Thursday, May 14th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.35 by $0.08. CorMedix had a return on equity of 45.57% and a net margin of 45.25%.The business had revenue of $127.43 million during the quarter, compared to the consensus estimate of $104.96 million. During the same period in the prior year, the business posted $0.30 earnings per share. CorMedix’s revenue was up 226.1% compared to the same quarter last year. As a group, sell-side analysts forecast that CorMedix Inc will post 0.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CRMD shares. Weiss Ratings upgraded CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. D. Boral Capital reiterated a “buy” rating and set a $14.00 price target on shares of CorMedix in a research report on Monday, April 27th. Needham & Company LLC upped their price objective on CorMedix from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, April 27th. Zacks Research upgraded CorMedix from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Finally, Royal Bank Of Canada decreased their target price on CorMedix from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, CorMedix presently has an average rating of “Moderate Buy” and a consensus target price of $14.86.

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.