In a report released today, Brandon Folkes from H.C. Wainwright reiterated a Buy rating on Cormedix, with a price target of $17.00.
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Brandon Folkes has given his Buy rating due to a combination of factors that highlight Cormedix’s promising growth trajectory. The inclusion of Melinta into Cormedix’s business model is a significant driver, as it not only boosts the company’s 2026 earnings per share but also diversifies its revenue streams. This strategic move is expected to enhance the company’s scale and complement its existing product, DefenCath, potentially leading to substantial EBITDA margin expansion.
Another critical factor in Folkes’s rating is the promising performance of Rezzayo, which has gained considerable traction in the market with its innovative once-weekly dosing. The potential for Rezzayo to expand its label to include prophylaxis of invasive fungal infections could significantly increase its market size, offering a long runway for cash flow generation. With robust revenue projections and cost-saving synergies anticipated from the Melinta acquisition, Cormedix is positioned for meaningful financial growth, justifying the Buy rating.
In another report released on September 23, Leerink Partners also reiterated a Buy rating on the stock with a $21.00 price target.