Cormedix (CRMD – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Les Sulewski from Truist Financial maintained a Buy rating on the stock and has a $20.00 price target.
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Les Sulewski has given his Buy rating due to a combination of factors that highlight Cormedix’s promising financial outlook and strategic positioning. The company has updated its first-half guidance to the higher end of its initial range, reflecting improved inventory management and order visibility with its largest customer. This adjustment suggests a strong base for the second half of the year, with potential growth from existing customers and new orders.
Additionally, Cormedix’s cash balance is expected to grow significantly, providing opportunities for mergers and acquisitions, which could further enhance its market position. The company’s commercial expansion of Defencath is progressing well, with increased utilization metrics and a substantial portion of the US Renal Care population already converted. These factors, combined with management’s optimistic outlook and the potential for further growth in patient utilization, support the Buy rating.
In another report released on April 21, Leerink Partners also reiterated a Buy rating on the stock with a $18.00 price target.
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