Leerink Partners analyst Roanna Ruiz has maintained their bullish stance on CRMD stock, giving a Buy rating yesterday.
Roanna Ruiz’s rating is based on a combination of factors that highlight the positive outlook for CorMedix. The company has reported preliminary first-quarter revenues for DefenCath that significantly exceeded both the firm’s and consensus estimates, indicating strong market demand and effective execution of their US launch strategy. This robust performance has prompted management to raise their revenue guidance for the first half of 2025, suggesting confidence in sustained growth.
Additionally, the company’s strategic initiatives, such as expanding contracts with large dialysis organizations and enhancing protocolization at larger institutions, are expected to drive further adoption of DefenCath. The anticipated growth in patient utilization and the upcoming Phase 3 study for total parenteral nutrition present further opportunities for expansion. These factors collectively support a positive outlook for CorMedix, justifying the Buy rating.
Ruiz covers the Healthcare sector, focusing on stocks such as Aquestive Therapeutics, Cytokinetics, and Lexicon Pharmaceuticals. According to TipRanks, Ruiz has an average return of -18.1% and a 26.76% success rate on recommended stocks.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $12.00 price target.