CorMedix price target raised to $20 from $17 at Truist

Truist raised the firm’s price target on CorMedix (CRMD) to $20 from $17 and keeps a Buy rating on the shares. Following last month’s preliminary results, the solid Q1 print was not a surprise, though it was surprising that management raised its H1 outlook as inventory shuffle at its largest customer subsided, the analyst tells investors in a research note. The firm added that the growing cash balance, which it expects to double and hit $147M by year-end, is a high-quality problem, and that it sees M&A in the offing.