Janney Montgomery Scott LLC Has $115,000 Position in CorMedix Inc $CRMD

Janney Montgomery Scott LLC reduced its position in shares of CorMedix Inc (NASDAQ:CRMD) by 83.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,998 shares of the company’s stock after selling 86,302 shares during the period. Janney Montgomery Scott LLC’s holdings in CorMedix were worth $115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of CorMedix by 13.1% during the fourth quarter. Vanguard Group Inc. now owns 4,499,010 shares of the company’s stock worth $52,323,000 after buying an additional 521,352 shares during the period. Phocas Financial Corp. acquired a new position in CorMedix in the fourth quarter valued at $1,990,000. Del Sette Capital Management LLC acquired a new position in CorMedix in the fourth quarter valued at $2,452,000. Round Rock Advisors LLC bought a new stake in CorMedix during the fourth quarter valued at $1,044,000. Finally, Assenagon Asset Management S.A. boosted its position in CorMedix by 35.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 302,508 shares of the company’s stock valued at $3,518,000 after acquiring an additional 78,447 shares during the last quarter. 34.18% of the stock is currently owned by institutional investors and hedge funds.

CorMedix Stock Performance

Shares of CRMD opened at $7.78 on Tuesday. CorMedix Inc has a one year low of $6.13 and a one year high of $14.96. The company has a market cap of $610.34 million, a PE ratio of 3.65 and a beta of 1.48. The stock has a 50-day moving average of $8.33 and a 200-day moving average of $7.78. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.97 and a quick ratio of 2.74.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.08. The business had revenue of $127.43 million for the quarter, compared to the consensus estimate of $104.96 million. CorMedix had a return on equity of 45.57% and a net margin of 45.25%.The firm’s revenue for the quarter was up 226.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. On average, equities research analysts predict that CorMedix Inc will post 0.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on CRMD. Weiss Ratings raised CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Zacks Research raised CorMedix from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Citizens Jmp reiterated a “market outperform” rating and issued a $19.00 target price on shares of CorMedix in a report on Tuesday, April 28th. Needham & Company LLC boosted their price target on CorMedix from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Royal Bank Of Canada cut their price target on CorMedix from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.86.

CorMedix Company 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.