Serge Belanger, an analyst from Needham, maintained the Buy rating on Cormedix (CRMD – Research Report). The associated price target was raised to $20.00.
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Serge Belanger has given his Buy rating due to a combination of factors including the recent commercial update from Cormedix regarding their DefenCath product. The company has entered into a modified agreement with a large dialysis organization (LDO), which has increased its patient target from 4,000 to over 6,000. This expansion in patient reach suggests a significant growth potential for the company.
Furthermore, Cormedix has raised its sales guidance for the second quarter of 2025 to a range of $35 million to $40 million, up from the previous estimate of $31 million. This upward revision in sales expectations reflects the anticipated increase in product orders and usage. However, Belanger also notes that the primary risk to this positive outlook is related to the TDAPA reimbursement adjustments set to begin in July 2026, which could impact future revenues.
Belanger covers the Healthcare sector, focusing on stocks such as Liquidia Technologies, Cormedix, and Cytokinetics. According to TipRanks, Belanger has an average return of 0.3% and a 40.40% success rate on recommended stocks.
In another report released on June 20, RBC Capital also maintained a Buy rating on the stock with a $17.00 price target.