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Fly News Breaks for May 23, 2018
CRMD
May 23, 2018 | 07:17 EDT
H.C. Wainwright analyst Raghuram Selvaraju lowered his price target for CorMedix to $2 citing higher than anticipated spending in Q1 and the guidance provided by the company that any further development of medical device-based products utilizing taurolidine would be paused until U.S. approval of Neutrolin is achieved. The analyst, however, expects a favorable result in the LOCK-IT-100 interim analysis, which he believes could prove a key value inflection point for CorMedix. He reiterates a Buy rating on the shares.
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