Cardiome Pharma Corp. (CRME) Stock Price Up 2.9%
Cardiome Pharma Corp. (NASDAQ:CRME) rose 2.9% during mid-day trading on Monday . The stock traded as high as $3.17 and last traded at $3.16, with a volume of 54,931 shares traded. The stock had previously closed at $3.07.
CRME has been the topic of several research reports. Zacks Investment Research upgraded shares of Cardiome Pharma Corp. from a “hold” rating to a “strong-buy” rating and set a $6.25 target price on the stock in a report on Monday, July 18th. Brean Capital restated a “buy” rating and issued a $7.00 target price (down previously from $10.00) on shares of Cardiome Pharma Corp. in a report on Monday, August 15th. HC Wainwright initiated 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 on the stock. Finally, Mackie upgraded shares of 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $8.27.
The firm has a 50-day moving average of $4.08 and a 200 day moving average of $4.62. The firm’s market cap is $100.41 million.
Cardiome Pharma Corp. (NASDAQ:CRME) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.19) by $0.18. During the same period in the previous year, the firm earned ($0.43) earnings per share. The firm had revenue of $5.90 million for the quarter, compared to analysts’ expectations of $6.73 million. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Cardiome Pharma Corp. will post ($0.75) earnings per share 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 Form 13F filing with the 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 approximately 19.07% of Cardiome Pharma Corp. worth $31,157,000 at the end of the most recent quarter.
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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