CorMedix Inc. (CRMD) saw its stock plummet by 5.24% during intraday trading on Monday, following a significant target price cut by Leerink Partners.
The investment firm reduced its target price for CorMedix from $21 to $15, signaling reduced confidence in the company's near-term prospects. This adjustment likely triggered a sell-off among investors, leading to the sharp decline in the stock's price.