Cardiome Pharma Corp. (CRME) Trading Up 1.6%
Cardiome Pharma Corp. (NASDAQ:CRME) shares were up 1.6% during mid-day trading on Tuesday . The stock traded as high as $3.25 and last traded at $3.18, with a volume of 92,508 shares. The stock had previously closed at $3.13.
Several research analysts have issued reports on CRME shares. Mackie raised shares of Cardiome Pharma Corp. from a “hold” rating to a “speculative buy” rating and lifted their target price for the stock from $5.20 to $8.60 in a report on Friday, May 6th. Zacks Investment Research raised shares of Cardiome Pharma Corp. from a “strong sell” rating to a “hold” rating and set a $5.50 target price for the company in a report on Tuesday, May 10th. Brean Capital reaffirmed a “buy” rating on shares of Cardiome Pharma Corp. in a report on Monday, May 16th. Finally, HC Wainwright started coverage on shares of Cardiome Pharma Corp. in a report on Wednesday, June 1st. They issued a “buy” rating and a $9.50 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Cardiome Pharma Corp. presently has an average rating of “Hold” and an average price target of $8.27.
The company has a 50 day moving average price of $4.36 and a 200 day moving average price of $4.73. The company’s market capitalization is $65.55 million.
Cardiome Pharma Corp. (NASDAQ:CRME) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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. Cardiome Pharma Corp.’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.43) EPS. Equities research analysts anticipate that Cardiome Pharma Corp. will post ($0.67) EPS for the current fiscal year.
An institutional investor recently raised its position in Cardiome Pharma Corp. stock. Westfield Capital Management Co. LP raised its stake in Cardiome Pharma Corp. (NASDAQ:CRME) by 19.2% during the fourth quarter, according to its most recent filing with the SEC. The firm 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 approximately 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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