Cardiome Pharma Corp. (CRME) Stock Price Down 1.6%
Cardiome Pharma Corp. (NASDAQ:CRME)’s share price traded down 1.6% during trading on Friday . The stock traded as low as $3.07 and last traded at $3.10, with a volume of 75,374 shares traded. The stock had previously closed at $3.15.
Several equities analysts have recently commented on the stock. Brean Capital reaffirmed a “buy” rating on shares of Cardiome Pharma Corp. in a research report on Monday, May 16th. Zacks Investment Research raised shares of Cardiome Pharma Corp. from a “strong sell” rating to a “hold” rating and set a $5.50 price target on the stock in a research report on Tuesday, May 10th. HC Wainwright assumed coverage on shares of Cardiome Pharma Corp. in a research report on Wednesday, June 1st. They set a “buy” rating and a $9.50 price target on the stock. Finally, Mackie raised shares of Cardiome Pharma Corp. from a “hold” rating to a “speculative buy” rating and increased their price target for the stock from $5.20 to $8.60 in a research report on Friday, May 6th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Cardiome Pharma Corp. presently has an average rating of “Buy” and an average price target of $9.48.
The stock has a 50-day moving average price of $4.66 and a 200 day moving average price of $4.85. The firm’s market cap is $62.29 million.
Cardiome Pharma Corp. (NASDAQ:CRME) last released its quarterly earnings data on Friday, May 13th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.15. The business earned $7.10 million during the quarter, compared to analyst estimates of $6.34 million. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.23) EPS. Equities analysts expect that Cardiome Pharma Corp. will post ($0.60) EPS for the current fiscal year.
A hedge fund recently raised its stake in Cardiome Pharma Corp. stock. Westfield Capital Management Co. LP raised its stake in shares of Cardiome Pharma Corp. (NASDAQ:CRME) by 19.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the SEC.
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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