Cardiome Pharma Corp. (CRME) Stock Price Down 2.2%
Cardiome Pharma Corp. (NASDAQ:CRME) was down 2.2% during trading on Monday . The stock traded as low as $3.12 and last traded at $3.12, with a volume of 142,367 shares. The stock had previously closed at $3.19.
A number of brokerages have issued reports on CRME. Mackie upgraded 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 note on Friday, May 6th. Zacks Investment Research upgraded Cardiome Pharma Corp. from a “strong sell” rating to a “hold” rating and set a $5.50 price target for the company in a research note on Tuesday, May 10th. Brean Capital reiterated a “buy” rating on shares of Cardiome Pharma Corp. in a research note on Monday, May 16th. Finally, HC Wainwright began coverage on Cardiome Pharma Corp. in a research note on Wednesday, June 1st. They issued a “buy” rating and a $9.50 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $8.27.
The stock’s market capitalization is $63.61 million. The stock has a 50 day moving average of $4.36 and a 200 day moving average of $4.73.
Cardiome Pharma Corp. (NASDAQ:CRME) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.18. The business had revenue of $5.90 million for the quarter, compared to the consensus estimate of $6.73 million. During the same period last year, the firm earned ($0.43) earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, analysts forecast that Cardiome Pharma Corp. will post ($0.67) EPS for the current year.
An institutional investor recently raised its position in Cardiome Pharma Corp. stock. Westfield Capital Management Co. LP increased its position in Cardiome Pharma Corp. (NASDAQ:CRME) by 19.2% during the fourth quarter, according to its most recent Form 13F filing with the 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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