Cardiome Pharma Corp. (CRME) Sets New 52-Week Low at $2.82
Shares of Cardiome Pharma Corp. (NASDAQ:CRME) reached a new 52-week low on Friday . The company traded as low as $2.82 and last traded at $2.87, with a volume of 74,449 shares. The stock had previously closed at $2.92.
A number of brokerages have weighed in on CRME. Zacks Investment Research upgraded Cardiome Pharma Corp. from a “hold” rating to a “strong-buy” rating and set a $6.25 price objective on the stock in a report on Monday, July 18th. Brean Capital restated a “buy” rating on shares of Cardiome Pharma Corp. in a report on Monday, May 16th. HC Wainwright initiated coverage on Cardiome Pharma Corp. in a report on Wednesday, June 1st. They issued a “buy” rating and a $9.50 price objective on the stock. Finally, Mackie raised 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 research note on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Cardiome Pharma Corp. has an average rating of “Hold” and an average target price of $8.27.
The stock has a 50 day moving average price of $3.60 and a 200 day moving average price of $4.49. The company’s market capitalization is $91.16 million.
Cardiome Pharma Corp. (NASDAQ:CRME) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.18. The company earned $5.90 million during the quarter, compared to analysts’ expectations of $6.73 million. During the same quarter in the previous year, the business earned ($0.43) EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts anticipate 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.
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