Street Calls of the Week
Investing.com - RBC Capital has raised its price target on CorMedix (NASDAQ:CRMD) to $22.00 from $21.00 while maintaining an Outperform rating on the stock. According to InvestingPro data, the company maintains a "GREAT" overall financial health score of 3.6/5, with analyst targets ranging from $14 to $22.
The adjustment follows CorMedix’s announcement of preliminary third-quarter 2025 results, which showed stronger-than-expected performance for its DefenCath product.
CorMedix has increased its pro-forma 2025 revenue guidance to $375 million or higher, with DefenCath generating over $85 million in the third quarter alone, demonstrating significant quarter-over-quarter growth.
RBC Capital notes that DefenCath still has growth potential within existing dialysis organizations and believes the post-TDAPA (Transitional Drug Add-on Payment Adjustment) transition is manageable.
The firm maintains its bullish stance on CorMedix, citing potential upside from continued performance beats, possible renal care policy changes, and upcoming catalysts.
In other recent news, CorMedix Inc . reported strong preliminary third-quarter earnings, with net revenue exceeding $100 million. DefenCath sales contributed more than $85 million to this figure, prompting the company to raise its full-year 2025 revenue guidance to at least $375 million. This increase from the previous range of $325-$350 million was attributed to stronger-than-expected utilization by large dialysis organizations and continued growth with other customers. Additionally, D. Boral Capital upgraded CorMedix’s stock rating from Hold to Buy, citing the strong sales performance. In a related development, RBC Capital maintained an Outperform rating on CorMedix, although it lowered the stock price target to $21 due to considerations around the Transitional Drug Add-on Payment Adjustment (TDAPA). Furthermore, CorMedix completed enrollment for its Phase III ReSPECT trial, which is evaluating the effectiveness of REZZAYO (rezafungin) for preventing fungal infections in patients undergoing allogeneic blood and marrow transplantation. Topline results from this study are expected in the second quarter of 2026. Lastly, CorMedix CEO Joe Todisco has been appointed to the Board of Directors at Talphera, following CorMedix’s strategic investment in the company.
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