Cardiome Pharma Corp. (CRME) Reaches New 52-Week Low at $2.82
Cardiome Pharma Corp. (NASDAQ:CRME)’s share price hit 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 equities analysts recently weighed in on the company. Zacks Investment Research cut Cardiome Pharma Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 12th. HC Wainwright assumed coverage on Cardiome Pharma Corp. in a research note on Wednesday, June 1st. They issued a “buy” rating and a $9.50 price target on the stock. Finally, Brean Capital reissued a “buy” rating and issued a $7.00 price target (down previously from $10.00) on shares of Cardiome Pharma Corp. in a research note on Monday, August 15th. One research 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. Cardiome Pharma Corp. has a consensus rating of “Hold” and a consensus price target of $8.27.
The firm has a 50-day moving average price of $3.55 and a 200 day moving average price of $4.49. The company’s market cap is $91.16 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 analysts’ consensus estimates of ($0.19) by $0.18. During the same quarter last year, the business earned ($0.43) EPS. The business earned $5.90 million during the quarter, compared to analysts’ expectations of $6.73 million. Cardiome Pharma Corp.’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts expect 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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