CRMD - CorMedix rallies; Truits initiates Buy on Defencath under FDA review

Truist initiated CorMedix ([[CRMD]] +12.9%) with a Buy rating, PT $20 indicating a more than four times increase from current levels.In the past 6-months, the stock has surged 96.2%; quick look at the company's total return vs. broader index performance (IYH):Analyst Joon Lee contends that the company's Defencath - which is currently under review by the FDA with priority review status - could change the standard of care with conservative peak sales of about $400M in hemodialysis alone, with oncology total addressable market being 1.7 times greater.Total annual cost in U.S. for treating all Catheter-related bloodstream infection ((CRBSI)) and their applications up to ~$2.7B; the company targets a substantial commercial market opportunity:For Defencath, the company has set a priority review goal of 6 months vs. standard review period of 10 months; PDUFA date is set at February 28, 2021. Read more: Investor PresentationHe further adds that the current standard of care

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CorMedix rallies; Truits initiates Buy on Defencath under FDA review