Analyst Roanna Ruiz of Leerink Partners reiterated a Buy rating on Cormedix (CRMD – Research Report), retaining the price target of $18.00.
Roanna Ruiz has given her Buy rating due to a combination of factors that highlight the promising future of CorMedix’s DefenCath product. The discussions with key opinion leaders (KOLs) indicate a strong potential for DefenCath’s adoption, as it addresses the significant challenge of catheter-related bloodstream infections in hemodialysis patients. This positive outlook is bolstered by the expectation that the implementation of DefenCath across dialysis organizations will increase, leading to a meaningful rise in its usage by 2025.
Furthermore, the recent preliminary earnings announcement for the first quarter of 2025 showed an encouraging increase in guidance and implied growth for DefenCath, supporting the view of a strong trajectory for the product this year. The KOLs also highlighted that DefenCath’s FDA approval sets it apart from other solutions that lack regulatory support, making it a critical differentiator. Early adoption is expected to focus on high-risk patients, with the potential to expand to a broader patient base, driven by its efficacy in infection prevention and favorable cost-benefit analysis.
CRMD’s price has also changed moderately for the past six months – from $11.200 to $8.140, which is a -27.32% drop .