CorMedix (NASDAQ:CRMD) Upgraded at Leerink Partnrs

Leerink Partnrs upgraded shares of CorMedix (NASDAQ:CRMD) to a strong-buy rating in a research note issued to investors on Friday,Zacks.com reports.

Several other research analysts have also recently issued reports on CRMD. Royal Bank of Canada increased their price objective on shares of CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. D. Boral Capital reiterated a “buy” rating and issued a $15.00 price objective on shares of CorMedix in a report on Wednesday, March 5th. Leerink Partners started coverage on shares of CorMedix in a report on Friday. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, StockNews.com upgraded shares of CorMedix to a “sell” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.00.

CorMedix Trading Up 12.9 %

NASDAQ CRMD opened at $10.71 on Friday. CorMedix has a 52 week low of $3.03 and a 52 week high of $13.85. The stock has a market cap of $649.85 million, a price-to-earnings ratio of -13.22 and a beta of 1.53. The company has a 50-day moving average price of $10.54 and a two-hundred day moving average price of $9.54.

Institutional Trading of CorMedix

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in CorMedix by 1.9% during the fourth quarter. Bank of America Corp DE now owns 60,115 shares of the company’s stock worth $487,000 after buying an additional 1,124 shares in 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 valued at $37,000 after acquiring an additional 1,625 shares in the last quarter. Nuveen Asset Management LLC lifted its position 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 acquiring an additional 1,679 shares in the last quarter. AlphaMark Advisors LLC lifted its position 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 acquiring an additional 2,000 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of CorMedix by 2.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company’s stock valued at $1,214,000 after acquiring an additional 3,221 shares in the last quarter. 34.18% of the stock is currently owned by institutional investors.

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.