CorMedix price target raised to $17 from $13 at RBC Capital

RBC Capital analyst Gregory Renza raised the firm’s price target on CorMedix (CRMD) to $17 from $13 and keeps an Outperform rating on the shares. Based on insights from key opinion leaders and management discussions, the firm is updating its views on CorMedix, having come away with renewed conviction in the near-term opportunity as well as longer-term sustainability of the DefenCath franchise, the analyst tells investors in a research note. A profitable biotech with continued growth momentum and no tariff nor IP risk will screen well in the current environment, the firm added.