Roth Capital initiated coverage on shares of CorMedix (NYSEAMERICAN:CRMD) in a report published on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $6.00 price target on the biotechnology company’s stock.
A number of other brokerages have also commented on CRMD. HC Wainwright set a $3.00 price target on shares of CorMedix and gave the stock a buy rating in a report on Monday, October 15th. Zacks Investment Research upgraded shares of CorMedix from a sell rating to a hold rating in a report on Monday, October 8th.
Shares of NYSEAMERICAN:CRMD opened at $1.62 on Thursday. CorMedix has a 52 week low of $0.17 and a 52 week high of $2.40.
In other news, Director Myron Kaplan bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 23rd. The shares were acquired at an average price of $1.30 per share, for a total transaction of $65,000.00. Following the completion of the acquisition, the director now directly owns 371,166 shares in the company, valued at $482,515.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jr. John L. Armstrong bought 250,000 shares of the company’s stock in a transaction that occurred on Thursday, November 29th. The stock was purchased at an average price of $1.45 per share, for a total transaction of $362,500.00. Following the acquisition, the vice president now owns 288,861 shares of the company’s stock, valued at $418,848.45. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 328,500 shares of company stock worth $461,230.
A number of hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC increased its stake in CorMedix by 109.7% in the third quarter. Virtu Financial LLC now owns 394,051 shares of the biotechnology company’s stock valued at $382,000 after purchasing an additional 206,099 shares in the last quarter. EAM Investors LLC bought a new stake in CorMedix in the third quarter valued at $701,000. Finally, Vanguard Group Inc. increased its stake in CorMedix by 49.7% in the third quarter. Vanguard Group Inc. now owns 2,673,113 shares of the biotechnology company’s stock valued at $2,589,000 after purchasing an additional 886,894 shares in the last quarter.
CorMedix Company Profile
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 and internationally. Its primary focus is on the development of its lead product candidate, Neutrolin, an anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as dialysis, critical/intensive care, and oncology.
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