Cardiome Pharma Corp. (CRME) Reaches New 1-Year Low at $3.00
Cardiome Pharma Corp. (NASDAQ:CRME)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $3.00 and last traded at $3.10, with a volume of 494,705 shares trading hands. The stock had previously closed at $3.01.
Several equities analysts have recently weighed in on CRME shares. Brean Capital reissued a “buy” rating on shares of Cardiome Pharma Corp. in a report on Monday, May 16th. Zacks Investment Research cut Cardiome Pharma Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday. HC Wainwright initiated coverage on Cardiome Pharma Corp. in a report on Wednesday, June 1st. They issued a “buy” rating and a $9.50 target price on the stock. Finally, Mackie raised Cardiome Pharma Corp. from a “hold” rating to a “speculative buy” rating and raised their target price for the stock from $5.20 to $8.60 in a report on Friday, May 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Cardiome Pharma Corp. currently has a consensus rating of “Buy” and an average target price of $9.48.
The company’s 50 day moving average price is $4.97 and its 200-day moving average price is $4.97. The firm’s market cap is $63.31 million.
Cardiome Pharma Corp. (NASDAQ:CRME) last released its quarterly earnings results on Friday, May 13th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.15. The firm earned $7.10 million during the quarter, compared to analysts’ expectations of $6.34 million. During the same period in the prior year, the firm posted ($0.23) earnings per share. Cardiome Pharma Corp.’s revenue for the quarter was up 28.9% compared to the same quarter last year. Equities analysts predict that Cardiome Pharma Corp. will post ($0.63) EPS for the current year.
An institutional investor recently raised its position in Cardiome Pharma Corp. stock. Westfield Capital Management Co. LP boosted its stake in Cardiome Pharma Corp. (NASDAQ:CRME) by 19.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,841,830 shares of the biopharmaceutical company’s stock after buying an additional 619,435 shares during the period. Westfield Capital Management Co. LP owned about 19.07% of Cardiome Pharma Corp. worth $31,157,000 at the end of the most recent reporting period.
Cardiome Pharma Corp. (Cardiome) is a specialty pharmaceutical company. The Company is engaged in the development and commercialization of cardiovascular therapies for heart disease. The Company’s segments are Europe and Rest of World. Cardiome has two marketed, in-hospital, cardiology products, which include BRINAVESS (vernakalant IV), approved in Europe and other territories for the conversion of onset atrial fibrillation (AF) to sinus rhythm in adults, and AGGRASTAT (tirofiban hydrochloride (HCl)), indicated for use in patients with acute coronary syndrome.
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