CorMedix's DefenCath Aims to Tackle Catheter-Related Blood Stream Infections: Analyst
Portfolio Pulse from Vandana Singh
RBC Capital Markets has initiated coverage on CorMedix Inc (CRMD) with an Outperform rating and a price target of $6. The company's antimicrobial asset, DefenCath, has the potential to capture an attractive hemodialysis market. Despite previous CRLs, DefenCath's data remains robust. The analyst, Gregory Renza, is impressed with CRMD's robust launch and reimbursement plans, aiming for a peak potential of $600 million in the U.S. by the 2030s. The analyst believes that DefenCath's resubmission is more likely than not to be approved.
August 10, 2023 | 4:35 pm
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RBC Capital Markets has initiated coverage on CorMedix Inc with an Outperform rating and a price target of $6. The company's DefenCath product has potential in the hemodialysis market and the analyst is impressed with the company's robust launch and reimbursement plans.
The positive coverage from RBC Capital Markets, along with the potential of DefenCath in the hemodialysis market and the company's robust launch and reimbursement plans, are likely to have a positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100