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Research Coverage initiated on Cormedix (AMEX: CRMD) by Maxim Group with a $5.00 price target

Posted by Mike Sweeney on Thu, Jun 03, 2010 @ 09:31
  
  
  
  
Add to delicious  delicious  
  
  

Maxim Group has initiated research on Cormedix and have put out a $5.00 price target on the stock. You can download the report at:

June 3, 2010 - Maxin Group initiates resarch coverage on CRMD

From the Maxim report:

"We are initiating coverage of CorMedix Inc. (CRMD) with a Buy rating and 12-month price target of $5.00. CorMedix Inc. is a biopharmaceutical company with two leading developing products. The first, Neutrolin, is scheduled to commence a pivotal trial for its potential as a catheter lock solution for the prevention of central venous catheter infection in hemodialysis settings. The second, Deferiprone, should soon enter a Phase II study for the prevention of contrast-induced nephropathy (CIN) in high-risk patients. Given its insufficient exposure to investors, we believe the stock’s current valuation is not inline with its potential upside. As such, we are recommending CRMD with a Buy rating and 12-month price target of $5.00 for risk-tolerant investors."

 

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CorMedix (AMEX:CRMD-U)

CorMedix Inc. (AMEX:CRMD-U) is a pharmaceutical company that seeks to in-license, develop and commercialize therapeutic products for the treatment of cardiac and kidney (cardiorenal) disease.

Cardiorenal disease includes a broad range of inter-related cardiovascular, kidney and metabolic problems which share the common trait of underlying oxidative stress and blood vessel malfunction (endothelial dysfunction).