Zacks Investment Research upgraded shares of CorMedix Inc. (NYSEMKT:CRMD) from a hold rating to a buy rating in a research note released on Monday morning. Zacks Investment Research currently has $3.25 target price on the stock.

According to Zacks, “CorMedix Inc. is a development-stage pharmaceutical company that seeks to in-license, develop and commercialize therapeutic products for the treatment of cardiac and renal dysfunction, also known as cardiorenal disease. CorMedix’s goal is to treat kidney disease by reducing the commonly associated cardiovascular and metabolic complications. The Company’s therapeutic candidates for cardiorenal disease may be small molecules, biologicals, devices and/or diagnostics (tests) that enable therapy. Its product pipeline includes: CRMD001, a unique formulation Deferiprone which is in development to prevent Contrast-Induced Acute Kidney Injury and to slow progression of Chronic Kidney Disease; CRMD002, a diagnostic test for urinary labile iron; CRMD003 (Neutrolin┬«, an antimicrobial/anticoagulant solution) is in development to prevent Catheter Related Bloodstream Infection; CRMD004, a pressure sensitive gel which has many uses, including extending the benefits of Neutrolin┬«. CorMedix Inc. is based in Summit, New Jersey. “

CorMedix (NYSEMKT:CRMD) traded up 7.61% during trading on Monday, hitting $3.11. 131,917 shares of the stock traded hands. The company has a 50-day moving average price of $2.28 and a 200-day moving average price of $2.48. The stock’s market cap is $115.65 million. CorMedix has a 12 month low of $1.15 and a 12 month high of $4.54.

CorMedix (NYSEMKT:CRMD) last posted its quarterly earnings results on Friday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by $0.02. The firm had revenue of $16.51 million for the quarter, compared to the consensus estimate of $119.97 million. Equities research analysts expect that CorMedix will post ($0.57) EPS for the current year.

In other CorMedix news, Director Taunia Markvicka acquired 18,600 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was bought at an average price of $1.65 per share, with a total value of $30,690.00. Following the purchase, the director now owns 22,600 shares of the company’s stock, valued at $37,290. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet Dillione acquired 15,000 shares of the business’s stock in a transaction dated Thursday, September 22nd. The stock was acquired at an average cost of $2.66 per share, with a total value of $39,900.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $39,900. The disclosure for this purchase can be found here.

Several large investors have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its stake in shares of CorMedix by 10.4% in the first quarter. Franklin Resources Inc. now owns 63,301 shares of the company’s stock worth $168,000 after buying an additional 5,946 shares during the period. Private Advisor Group LLC boosted its stake in shares of CorMedix by 14.2% in the second quarter. Private Advisor Group LLC now owns 108,333 shares of the company’s stock worth $195,000 after buying an additional 13,500 shares during the period. Paloma Partners Management Co boosted its stake in shares of CorMedix by 746.1% in the second quarter. Paloma Partners Management Co now owns 132,864 shares of the company’s stock worth $264,000 after buying an additional 117,160 shares during the period. Geode Capital Management LLC boosted its stake in shares of CorMedix by 2.4% in the first quarter. Geode Capital Management LLC now owns 196,637 shares of the company’s stock worth $521,000 after buying an additional 4,596 shares during the period. Finally, Bridgeway Capital Management Inc. boosted its stake in shares of CorMedix by 1.7% in the second quarter. Bridgeway Capital Management Inc. now owns 279,701 shares of the company’s stock worth $557,000 after buying an additional 4,600 shares during the period.

CorMedix Company Profile

CorMedix Inc is a commercial pharmaceutical and medical device company. The Company in-licenses, develops and commercializes prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases. The Company has in-licensed the rights to develop and commercialize its product candidate, CRMD003 (Neutrolin), which addresses market opportunities in the instances in which a central venous catheter is used, such as hemodialysis, intensive care units, oncology, and patients receiving total parenteral nutrition, intravenous (IV) hydration, and/or IV medications.

Receive News & Stock Ratings for CorMedix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CorMedix Inc. and related stocks with our FREE daily email newsletter.