H.C. Wainwright analyst Brandon Folkes initiated coverage of CorMedix (CRMD) with a Buy rating and $20 price target CorMedix received FDA approval for DefenCath in late 2023 and has outperformed expectations on the DefenCath launch to date, argues the analyst, who sees “unappreciated upside still to be unlocked.” The company is in the initial t year TDAP period, and will enjoy a further three years post this initial period of reimbursement, adds the analyst, who thinks revenue potential post the initial TDAPA period “remains underappreciated.”
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