CorMedix’s Strong Q1 Performance and Growth Prospects Justify Buy Rating

Leerink Partners analyst Roanna Ruiz has maintained their bullish stance on CRMD stock, giving a Buy rating yesterday.

Roanna Ruiz’s rating is based on CorMedix’s strong first-quarter financial performance and promising future prospects. The company reported impressive revenues of $39.1 million for DefenCath, aligning with their preliminary announcements and indicating potential to reach the higher end of their first-half 2025 sales guidance. This performance suggests growing confidence in the DefenCath launch, which is reflected in the stock’s positive market reaction.
Moreover, Ruiz highlights several growth drivers for CorMedix, including new contracts with large dialysis organizations, increased protocolization at existing customers, and accelerated inpatient adoption supported by a fully deployed sales team. The company’s low exposure to international tariff and supply chain issues further strengthens its position. These factors, combined with updated financial models that increased the price target to $19, underpin the Buy rating for CRMD.

In another report released yesterday, Truist Financial also maintained a Buy rating on the stock with a $20.00 price target.

CRMD’s price has also changed slightly for the past six months – from $10.320 to $11.160, which is a 8.14% increase.