CorMedix stock rating reiterated as Buy by H.C. Wainwright

Investing.com - H.C. Wainwright has reiterated its Buy rating for CorMedix (NASDAQ:CRMD) with a price target of $20.00. The company, currently valued at $930 million, maintains a strong financial position with a debt-free balance sheet and healthy liquidity ratio of 4.21.

Analyst Raghuram Selvaraju maintained the firm’s positive outlook on the biopharmaceutical company, keeping the same price target that H.C. Wainwright had previously established. The stock has demonstrated remarkable performance, delivering a 189% return over the past year, with analyst targets ranging from $15 to $22.

The reiteration comes as CorMedix continues to develop its lead product candidate, DefenCath, an antimicrobial and antifungal solution designed to prevent catheter-related bloodstream infections.

The $20.00 price target suggests significant potential upside for the stock based on its current trading levels.

H.C. Wainwright’s continued Buy rating indicates the firm’s confidence in CorMedix’s business strategy and growth prospects in the medical device and pharmaceutical sectors.

In other recent news, CorMedix Inc . announced an underwritten public offering of common stock expected to generate approximately $85 million in gross proceeds. The company has granted underwriters a 30-day option to purchase up to an additional 15% of the offered shares. RBC Capital Markets is serving as the sole bookrunner for the offering, with Truist Securities, Citizens Capital Markets, and Needham & Company acting as capital markets advisors. CorMedix plans to use the net proceeds for general corporate purposes, including working capital, research and development expenses, and potential strategic transactions. Additionally, CorMedix held its 2025 Annual Meeting of Stockholders, where all seven director nominees were elected, and key proposals, including executive compensation and auditor ratification, were approved. The company also reported that its Large Dialysis Organization customer has begun ordering DefenCath, with plans to implement the product in the second half of 2025, targeting at least 50% more patients than initially planned. Following this development, CorMedix increased its second-quarter net sales guidance from $31 million to a range of $35 million to $40 million. These developments highlight the company’s ongoing strategic initiatives and financial planning.

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