Cardiome Pharma Corp. (CRME) Sees Strong Trading Volume
Cardiome Pharma Corp. (NASDAQ:CRME) saw unusually-high trading volume on Wednesday . Approximately 371,386 shares were traded during mid-day trading, an increase of 124% from the previous session’s volume of 165,989 shares.The stock last traded at $2.99 and had previously closed at $3.01.
CRME has been the topic of a number of analyst reports. Brean Capital reiterated a “buy” rating and issued a $7.00 target price (down previously from $10.00) on shares of Cardiome Pharma Corp. in a research report on Monday, August 15th. Zacks Investment Research upgraded shares of Cardiome Pharma Corp. from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a research report on Monday, May 16th. HC Wainwright assumed coverage on shares of Cardiome Pharma Corp. in a research report on Wednesday, June 1st. They issued a “buy” rating and a $9.50 price objective on the stock. Finally, Mackie upgraded shares of Cardiome Pharma Corp. from a “hold” rating to a “speculative buy” rating and boosted their price objective for the company from $5.20 to $8.60 in a research report on Friday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $8.27.
The firm’s 50 day moving average price is $3.66 and its 200 day moving average price is $4.51. The company’s market cap is $94.99 million.
Cardiome Pharma Corp. (NASDAQ:CRME) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.18. The company had revenue of $5.90 million for the quarter, compared to analysts’ expectations of $6.73 million. During the same period last year, the company posted ($0.43) EPS. The business’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Cardiome Pharma Corp. will post ($0.75) earnings per share for the current fiscal year.
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.