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CorMedix Inc. (NASDAQ:CRMD) shareholders will have a reason to smile today, with the analysts making substantial upgrades to next year's forecasts. The consensus statutory numbers for both revenue and earnings per share (EPS) increased, with their view clearly much more bullish on the company's business prospects.
Following the upgrade, the current consensus from CorMedix's four analysts is for revenues of US$111m in 2025 which - if met - would reflect a sizeable increase on its sales over the past 12 months. The losses are expected to disappear over the next year or so, with forecasts for a profit of US$0.45 per share next year. Before this latest update, the analysts had been forecasting revenues of US$100m and earnings per share (EPS) of US$0.18 in 2025. So we can see there's been a pretty clear increase in analyst sentiment in recent times, with both revenues and earnings per share receiving a decent lift in the latest estimates.
View our latest analysis for CorMedix
Despite these upgrades, the analysts have not made any major changes to their price target of US$14.25, suggesting that the higher estimates are not likely to have a long term impact on what the stock is worth.
One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. It's clear from the latest estimates that CorMedix's rate of growth is expected to accelerate meaningfully, with the forecast 5x annualised revenue growth to the end of 2025 noticeably faster than its historical growth of 81% p.a. over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 10% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect CorMedix to grow faster than the wider industry.
The Bottom Line
The biggest takeaway for us from these new estimates is that analysts upgraded their earnings per share estimates, with improved earnings power expected for next year. Fortunately, analysts also upgraded their revenue estimates, and our data indicates sales are expected to perform better than the wider market. Some investors might be disappointed to see that the price target is unchanged, but we feel that improving fundamentals are usually a positive - assuming these forecasts are met! So CorMedix could be a good candidate for more research.
With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple CorMedix analysts - going out to 2026, and you can see them free on our platform here.