Street Calls of the Week
Investing.com - D. Boral Capital upgraded CorMedix (NASDAQ:CRMD) from Hold to Buy and set a price target of $14.00, citing strong preliminary third-quarter results. According to InvestingPro data, the company maintains a "GREAT" financial health score of 3.64, with analyst targets ranging from $17 to $23.
CorMedix announced preliminary Q3 results showing pro forma net revenue exceeding $125 million, with $85 million coming from DefenCath sales, according to the research firm.
The company raised its 2025 revenue guidance to at least $375 million, demonstrating increased confidence in its financial outlook.
D. Boral Capital noted that CorMedix reported over $70 million in Q3 adjusted EBITDA and has visibility into $30 million of near-term operating synergies.
The research firm views the recent stock pullback as a re-entry point for investors, leading to the rating upgrade and $14.00 price target reinstatement.
In other recent news, CorMedix Inc . reported strong third-quarter earnings, with preliminary unaudited net revenue surpassing $100 million. Sales of DefenCath contributed over $85 million to this figure. The company has also raised its full-year 2025 revenue guidance to at least $375 million, up from the previous range of $325-$350 million, due to stronger than expected utilization by large dialysis organizations (LDOs) and growth with other customers. Meanwhile, RBC Capital lowered its price target for CorMedix to $21.00, focusing on the potential impact of the Transitional Drug Add-on Payment Adjustment (TDAPA) dynamics post-2026 or 2028. CorMedix also completed enrollment for its Phase III ReSPECT trial, evaluating REZZAYO for preventing fungal infections, with results anticipated in the second quarter of 2026. Additionally, CorMedix announced a strategic equity investment of $5 million in Talphera, Inc., with the right of first negotiation to acquire Talphera after Phase 3 results for its lead candidate, Niyad. The company led a $29 million financing round for Talphera, with an initial closing of $17 million expected and an additional $12 million contingent on clinical study outcomes. JMP Securities reiterated its Market Outperform rating for CorMedix, maintaining a price target of $22.00.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.