CorMedix

CRMD · NASDAQ

$7.57+$0.19 (+2.57%)TodayMarket closed · Oct 20, 7:36 PM ET

Prev close $7.38

CRMD analyst rating

BuyConsensus of 7 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy7
Hold0
Underperform0
Sell0

12-month price target · 8 analysts

Average $15.64 (+106.6% upside)

Low: $13.13
Now: $7.57
High: $19.95

Upgrades and downgrades

The latest rating actions, newest first

CRMD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Needham	Oct 19, 2026	Maintains	Buy	$15.00	53%
Oppenheimer	Sep 23, 2026	Initiates	Outperform	$15.00	59%
RBC Capital	Aug 14, 2026	Maintains	Outperform	$13.00 → $14.00	49%
RBC Capital	Jul 7, 2026	Maintains	Outperform	$14.00 → $13.00	49%
RBC Capital	Apr 28, 2026	Maintains	Outperform	$13.00 → $14.00	49%
Citizens	Apr 28, 2026	Maintains	Market Outperform	$19.00	41%
Leerink Partners	Apr 28, 2026	Maintains	Outperform	$13.00 → $14.00	35%
Needham	Apr 27, 2026	Maintains	Buy	$14.00 → $15.00	53%
D. Boral Capital	Apr 27, 2026	Maintains	Buy	$14.00	29%
Needham	Mar 5, 2026	Maintains	Buy	$15.00 → $14.00	53%

The case for and against

Updated Oct 14, 2026

Bull case

Cormedix is supported by DefenCath’s strong commercial execution, highlighted by 2Q26 revenue of $66.1M and a new contract with the final major LDO, which reinforces demand durability and should help volumes in ’26 and franchise strength beyond. Its outlook is further strengthened by reiterated FY26 revenue guidance of $325M-$345M, raised EBITDA guidance of $125M-$140M, and about $257M in cash, giving it flexibility to manage spend while pursuing commercial opportunities. Beyond DefenCath, the Melinta portfolio adds diversified cash flow and Rezzayo offers another growth leg with a potential >$2B TAM, supporting a positive view on earnings resilience and longer-term upside.

Bear case

Cormedix is challenged by the possibility that DefenCath fails to gain traction in hemodialysis in ESRD, a risk compounded by the prospect of Melinta deal failure, which could leave the stock trading closer to net cash value with minimal pipeline support. The company is entering an essentially new U.S. market where cheap, established heparin catheter lock solutions already compete for physician mind share, while reimbursement, pricing pressure, and commercialization execution remain major headwinds. Financially, CorMedix is expected to continue net losses through the early launch phase and may need to raise additional capital, adding dilution risk on top of regulatory, clinical, and intellectual property uncertainty.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.