Cardiome Pharma Corp. (CRME) Stock Price Up 1.6%
Cardiome Pharma Corp. (NASDAQ:CRME) rose 1.6% during mid-day trading on Tuesday . The stock traded as high as $3.25 and last traded at $3.18, with a volume of 92,508 shares. The stock had previously closed at $3.13.
CRME has been the subject of several analyst reports. Mackie upgraded shares of 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 report on Friday, May 6th. Zacks Investment Research upgraded shares of Cardiome Pharma Corp. from a “strong sell” rating to a “hold” rating and set a $5.50 target price for the company in a report on Tuesday, May 10th. Brean Capital restated a “buy” rating on shares of Cardiome Pharma Corp. in a report on Monday, May 16th. Finally, HC Wainwright initiated coverage on shares of Cardiome Pharma Corp. in a report on Wednesday, June 1st. They issued a “buy” rating and a $9.50 target price for the company. 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 company. The company presently has a consensus rating of “Hold” and an average target price of $8.27.
The company has a 50-day moving average of $4.26 and a 200-day moving average of $4.69. The company’s market cap is $101.36 million.
Cardiome Pharma Corp. (NASDAQ:CRME) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.19) by $0.18. During the same period in the previous year, the firm posted ($0.43) earnings per share. The company had revenue of $5.90 million for the quarter, compared to the consensus estimate of $6.73 million. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, analysts forecast that Cardiome Pharma Corp. will post ($0.72) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Cardiome Pharma Corp. stock. Westfield Capital Management Co. LP increased its stake in Cardiome Pharma Corp. (NASDAQ:CRME) by 19.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,841,830 shares of the biopharmaceutical company’s stock after buying an additional 619,435 shares during the period. Westfield Capital Management Co. LP owned about 19.07% of Cardiome Pharma Corp. worth $31,157,000 at the end of the most recent quarter.
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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