PNC Financial Services Group Inc. Has $182,000 Position in Cardiome Pharma Corp. (CRME)
PNC Financial Services Group Inc. continued to hold its stake in Cardiome Pharma Corp. (NASDAQ:CRME) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 35,580 shares of the biopharmaceutical company’s stock at the end of the second quarter. PNC Financial Services Group Inc. owned 0.17% of Cardiome Pharma Corp. worth $182,000 at the end of the most recent quarter.
Separately, ClariVest Asset Management LLC purchased a new position in shares of Cardiome Pharma Corp. during the second quarter valued at $109,000. Institutional investors and hedge funds own 37.74% of the company’s stock.
Cardiome Pharma Corp. (NASDAQ:CRME) traded down 1.442% on Thursday, reaching $3.075. The company’s stock had a trading volume of 97,309 shares. The stock has a 50 day moving average price of $3.06 and a 200-day moving average price of $4.20. The company’s market capitalization is $98.02 million. Cardiome Pharma Corp. has a 1-year low of $2.80 and a 1-year high of $9.25.
Cardiome Pharma Corp. (NASDAQ:CRME) last posted its quarterly earnings data 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. Cardiome Pharma Corp. had a negative return on equity of 111.18% and a negative net margin of 96.91%. The firm had revenue of $5.90 million for the quarter, compared to analysts’ expectations of $6.73 million. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts predict that Cardiome Pharma Corp. will post ($0.75) earnings per share for the current fiscal year.
Several research analysts recently weighed in on the company. Brean Capital reaffirmed a “buy” rating and issued a $7.00 target price (down from $10.00) on shares of Cardiome Pharma Corp. in a research report on Monday, August 15th. Zacks Investment Research lowered Cardiome Pharma Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Cardiome Pharma Corp. presently has a consensus rating of “Hold” and a consensus target price of $8.27.
About Cardiome Pharma Corp.
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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