CorMedix Inc. (CRMD) shares are soaring 5.09% in intraday trading on Wednesday, buoyed by positive analyst actions. The biopharmaceutical company has received a vote of confidence from Wall Street, with one firm maintaining its bullish stance and another raising its price target.
Needham, a respected investment bank and asset management firm, has reiterated its "Buy" rating on CorMedix stock. This maintenance of a positive outlook suggests that Needham analysts continue to see upside potential in the company's shares and business prospects.
Adding to the optimism, Truist Securities has significantly raised its price target for CorMedix from $17 to $20. This 17.6% increase in the target price indicates that Truist Securities analysts have become more bullish on the company's future performance. The higher price target implies potential for further stock appreciation, which is likely contributing to today's strong market reaction.
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