CorMedix price target raised to $14 from $13 at RBC Capital

RBC Capital analyst Leonid Timashev raised the firm’s price target on CorMedix (CRMD) to $14 from $13 and keeps an Outperform rating on the shares. The company eported positive topline phase 3 for Rezzayo for the prophylaxis of fungal infections, and the firm’s initial impression is that Rezzayo looks competitive to other options, likely having delivered on its promise of broad spectrum activity, favorable tolerability, and fewer discontinuations, the analyst tells investors in a research note.