In a report released today, Serge Belanger from Needham maintained a Buy rating on Cormedix (CRMD – Research Report), with a price target of $12.00.
Serge Belanger has given his Buy rating due to a combination of factors including Cormedix’s current valuation and the potential for future growth. Despite a recent dip in stock price following the fourth quarter earnings update, the company has provided a sales guidance for the first half of 2025 that suggests a solid performance in the first quarter, although a decrease is expected in the second quarter.
The anticipation of orders from large dialysis organizations (LDOs) like Fresenius by mid-2025 is seen as a positive future catalyst, even though negotiations with DaVita are currently stalled. The adoption of LDOs is crucial for the next phase of reimbursement, which adds to the long-term growth potential. Consequently, while the price target has been adjusted to reflect lower sales estimates, the overall outlook remains optimistic, justifying the Buy rating.
Belanger covers the Healthcare sector, focusing on stocks such as Evolus, Trevi Therapeutics, and BioCryst. According to TipRanks, Belanger has an average return of 2.9% and a 41.20% success rate on recommended stocks.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $19.00 price target.