CorMedix, Inc. (CRMD)
NASDAQHealth CareBiotechnologySnapshot 2026-09-09
$8.13-0.61%
Close 2026-09-09 · 1-day change
NASDAQHealth CareBiotechnologySnapshot 2026-09-09
Intact: The reason to own it still holds.
CorMedix raised 2026 revenue guidance to $325-$345 million. Sales grew from $104M to $127M in six months. Profit is expected near $125 million adjusted EBITDA in 2026. The stock trades cheap with a PE of 4.0 versus peers at 21.7.
Legal and regulatory issues could hurt the company. Revenue may fall below raised guidance. Profit margins could weaken if costs rise.
The market expects about 20% revenue decline next year. Our fair value is $27.17, higher than current price. We see upside from growth and cheap valuation.
Breaks if: Adjusted EBITDA falls below $115 million in 2026
Breaks if: DefenCath sales fall below $100 million in 2027
Breaks if: Progress score falls below 66%
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a speculative growth opportunity in the healthcare sector. The current thesis state is intact, supported by strong recent financial performance but facing elevated risks.
The market currently prices CRMD as cheap compared to its peers, with a notable expectations gap. This suggests that investors may not be fully accounting for the company's potential growth and profitability improvements.
Management is on track to increase revenue and adjusted EBITDA guidance for 2026, indicating a positive trajectory. However, there is a near-term risk of missing estimates due to the company's history of misses in a high-miss-rate industry.
The thesis hinges on management's ability to maintain or raise guidance, as well as the performance of sector bellwethers like VRTX, REGN, and ARGX. Additionally, broader economic indicators, such as the jobs report, could impact investor sentiment.
The most important moves since the prior daily snapshot.
Yes, our read has strengthened. The latest earnings beat supports a positive outlook. Additionally, the company increased its full-year 2026 revenue guidance, reinforcing growth objectives. There are no new threats impacting the thesis.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Breaks if: Full-year 2026 revenue falls below $325 million
Over the next 1 to 3 years, CRMD's performance will depend on its execution and external market conditions. Not investment advice.