CorMedix (NASDAQ:CRMD) Director Steven Lefkowitz Sells 40,000 Shares of Stock

CorMedix Inc (NASDAQ:CRMD) Director Steven Lefkowitz sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $11.88, for a total transaction of $475,200.00. Following the completion of the transaction, the director owned 80,498 shares in the company, valued at approximately $956,316.24. This represents a 33.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

CorMedix Trading Down 1.3%

CorMedix stock opened at $11.47 on Thursday. The company’s fifty day simple moving average is $10.78 and its 200-day simple moving average is $11.93. The company has a quick ratio of 1.73, a current ratio of 1.94 and a debt-to-equity ratio of 0.39. CorMedix Inc has a 12 month low of $5.60 and a 12 month high of $17.43. The stock has a market cap of $903.72 million, a P/E ratio of 5.57 and a beta of 1.32.

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

Institutional Investors Weigh In On CorMedix

A number of institutional investors have recently bought and sold shares of the business. XTX Topco Ltd boosted its position in shares of CorMedix by 234.2% during the 1st quarter. XTX Topco Ltd now owns 39,333 shares of the company’s stock valued at $242,000 after acquiring an additional 27,562 shares in the last quarter. Vanguard Group Inc. boosted its holdings in CorMedix by 7.9% during the first quarter. Vanguard Group Inc. now owns 3,646,551 shares of the company’s stock valued at $22,463,000 after purchasing an additional 268,360 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of CorMedix by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 177,188 shares of the company’s stock valued at $1,091,000 after purchasing an additional 2,770 shares during the period. Swiss National Bank bought a new position in shares of CorMedix during the 1st quarter worth approximately $724,000. Finally, Invesco Ltd. boosted its stake in CorMedix by 1,070.3% in the 1st quarter. Invesco Ltd. now owns 289,110 shares of the company’s stock valued at $1,781,000 after buying an additional 264,407 shares in the last quarter. Institutional investors and hedge funds own 34.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Needham & Company LLC reduced their target price on CorMedix from $20.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. D. Boral Capital reaffirmed a “buy” rating and set a $14.00 price objective on shares of CorMedix in a report on Wednesday, November 12th. HC Wainwright raised their target price on shares of CorMedix from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. JMP Securities reissued a “market outperform” rating and set a $22.00 target price on shares of CorMedix in a research report on Tuesday, September 9th. Finally, Zacks Research raised CorMedix from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, CorMedix has a consensus rating of “Buy” and a consensus price target of $18.33.

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.