Cormedix, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Serge Belanger from Needham maintained a Buy rating on the stock and has a $15.00 price target.
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Serge Belanger has given his Buy rating due to a combination of factors tied to Cormedix’s long‑term growth prospects. He views the company’s near‑term business as supported by a relatively steady revenue base, largely from Melinta products, while acknowledging that the change in TDAPA reimbursement will pressure DefenCath sales beginning in the second half of 2026.
At the same time, he sees significant upside from planned label expansions for both Rezzayo and DefenCath, which could materially enhance future revenue. In particular, he highlights the upcoming phase 3 data for Rezzayo in antifungal prophylaxis expected in the second quarter of 2026, and the phase 3 trial of DefenCath in TPN with a readout anticipated in early 2027, as major value‑creating catalysts that justify a Buy recommendation.
Belanger covers the Healthcare sector, focusing on stocks such as Cormedix, Viridian Therapeutics, and Cytokinetics. According to TipRanks, Belanger has an average return of 11.9% and a 48.40% success rate on recommended stocks.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $13.00 price target.