CorMedix (NASDAQ:CRMD) Stock Rating Upgraded by Leerink Partnrs

Leerink Partnrs upgraded shares of CorMedix (NASDAQ:CRMD - Free Report) to a strong-buy rating in a report published on Friday morning,Zacks.com reports.

A number of other research firms have also recently issued reports on CRMD. StockNews.com raised CorMedix to a "sell" rating in a research report on Friday, November 8th. Royal Bank of Canada raised their price target on shares of CorMedix from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. Leerink Partners began coverage on shares of CorMedix in a report on Friday, March 7th. They issued an "outperform" rating and a $18.00 price objective for the company. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $15.00 target price on shares of CorMedix in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.00.

CorMedix Stock Up 3.6 %

Shares of NASDAQ:CRMD traded up $0.38 during midday trading on Friday, hitting $10.97. The stock had a trading volume of 710,284 shares, compared to its average volume of 1,075,997. The company has a market cap of $665.63 million, a P/E ratio of -13.54 and a beta of 1.53. CorMedix has a 12 month low of $3.47 and a 12 month high of $13.85. The business's 50-day simple moving average is $10.65 and its 200-day simple moving average is $9.61.

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Hedge Funds Weigh In On CorMedix

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in shares of CorMedix by 1.9% in the 4th quarter. Bank of America Corp DE now owns 60,115 shares of the company's stock valued at $487,000 after acquiring an additional 1,124 shares during the last quarter. FMR LLC lifted its position in shares of CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company's stock worth $37,000 after purchasing an additional 1,625 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of CorMedix by 1.0% in the 4th quarter. Nuveen Asset Management LLC now owns 171,978 shares of the company's stock valued at $1,393,000 after purchasing an additional 1,679 shares during the last quarter. AlphaMark Advisors LLC boosted its stake in shares of CorMedix by 16.7% in the 4th quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company's stock valued at $113,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of CorMedix by 2.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company's stock worth $1,214,000 after buying an additional 3,221 shares during the period. Institutional investors own 34.18% of the company's stock.

About CorMedix

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. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.