Wealth Enhancement Advisory Services LLC Acquires 4,935 Shares of CorMedix Inc. (NASDAQ:CRMD)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of CorMedix Inc. (NASDAQ:CRMD) by 10.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 52,184 shares of the company’s stock after acquiring an additional 4,935 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in CorMedix were worth $422,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. bought a new stake in CorMedix during the 2nd quarter valued at $44,000. AlphaMark Advisors LLC purchased a new stake in shares of CorMedix during the 3rd quarter worth $97,000. Tidal Investments LLC bought a new stake in CorMedix during the first quarter valued at about $60,000. Price T Rowe Associates Inc. MD grew its stake in CorMedix by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock valued at $63,000 after purchasing an additional 2,562 shares during the last quarter. Finally, Creative Planning purchased a new position in CorMedix in the third quarter valued at about $129,000. Institutional investors own 34.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CRMD. Royal Bank of Canada restated an “outperform” rating and issued a $9.00 price target on shares of CorMedix in a report on Thursday, August 15th. Needham & Company LLC raised their target price on shares of CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Rodman & Renshaw began coverage on shares of CorMedix in a report on Monday, August 26th. They issued a “buy” rating and a $13.00 price target on the stock. StockNews.com upgraded CorMedix to a “sell” rating in a report on Friday. Finally, Truist Financial boosted their target price on CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CorMedix has an average rating of “Moderate Buy” and a consensus price target of $15.20.

CorMedix Trading Up 9.1 %

Shares of CorMedix stock opened at $11.60 on Friday. CorMedix Inc. has a 12-month low of $2.57 and a 12-month high of $13.85. The firm’s 50 day simple moving average is $8.98 and its two-hundred day simple moving average is $6.32. The firm has a market capitalization of $703.89 million, a price-to-earnings ratio of -14.32 and a beta of 1.58.

CorMedix (NASDAQ:CRMD) last released its earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.05. The firm had revenue of $11.46 million during the quarter, compared to analyst estimates of $11.00 million. During the same period in the previous year, the company earned ($0.17) earnings per share. On average, sell-side analysts predict that CorMedix Inc. will post -0.46 EPS for the current fiscal year.

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.