Mackie restated their hold rating on shares of Cardiome Pharma Corp. (NASDAQ:CRME) in a research note published on Wednesday. The brokerage currently has a $3.50 price target on the biopharmaceutical company’s stock, down from their previous price target of $5.10.

Several other research firms have also recently issued reports on CRME. Zacks Investment Research raised shares of Cardiome Pharma Corp. from a hold rating to a strong-buy rating and set a $6.25 price target for the company in a report on Monday, July 18th. Brean Capital reissued a buy rating and set a $7.00 price target (down from $10.00) on shares of Cardiome Pharma Corp. in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $7.25.

Shares of Cardiome Pharma Corp. (NASDAQ:CRME) traded down 2.3289% on Wednesday, reaching $2.9692. The company had a trading volume of 3,138 shares. The company’s 50 day moving average price is $3.06 and its 200-day moving average price is $4.16. Cardiome Pharma Corp. has a 1-year low of $2.80 and a 1-year high of $9.25. The stock’s market capitalization is $94.64 million.

Cardiome Pharma Corp. (NASDAQ:CRME) last posted its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.18. The firm had revenue of $5.90 million for the quarter, compared to analysts’ expectations of $6.73 million. Cardiome Pharma Corp. had a negative return on equity of 111.18% and a negative net margin of 96.91%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.43) earnings per share. Equities analysts predict that Cardiome Pharma Corp. will post ($0.75) EPS for the current year.

An institutional investor recently bought a new position in Cardiome Pharma Corp. stock. ClariVest Asset Management LLC bought a new position in shares of Cardiome Pharma Corp. (NASDAQ:CRME) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 21,187 shares of the biopharmaceutical company’s stock, valued at approximately $109,000. ClariVest Asset Management LLC owned about 0.10% of Cardiome Pharma Corp. as of its most recent SEC filing. 37.74% of the stock is currently owned by institutional investors.

Cardiome Pharma Corp. Company Profile

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.

5 Day Chart for NASDAQ:CRME

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