Leerink Partners analyst Roanna Ruiz has maintained their bullish stance on CRMD stock, giving a Buy rating on June 24.
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Roanna Ruiz has given her Buy rating due to a combination of factors that highlight CorMedix’s promising commercial trajectory. The company has raised its Q2 net sales guidance significantly, indicating a strong launch and positioning CorMedix as a compelling growth story as it moves into the second half of 2025. This optimism is fueled by the broader-than-expected rollout of DefenCath with a major dialysis organization partner, which is projected to reach a 6,000-patient annualized run rate by the end of 2025.
Key drivers of this positive outlook include the substantial initial order from the large dialysis organization, along with increased adoption in outpatient settings and growth in the inpatient segment. The market’s positive reaction, with shares rising significantly, underscores the confidence in DefenCath’s commercial momentum. Additionally, the updated agreement with the dialysis partner includes forward-looking pricing concessions, which are expected to stabilize revenue recognition and mitigate inventory risks, further supporting the Buy rating.