Cardiome Pharma Corp. (CRME) Sets New 52-Week Low at $2.92
Shares of Cardiome Pharma Corp. (NASDAQ:CRME) reached a new 52-week low during trading on Friday . The company traded as low as $2.92 and last traded at $2.99, with a volume of 39,027 shares changing hands. The stock had previously closed at $3.06.
CRME has been the topic of a number of analyst reports. Brean Capital reaffirmed a “buy” rating and set a $7.00 price objective (down previously from $10.00) on shares of Cardiome Pharma Corp. in a research note on Monday, August 15th. Zacks Investment Research raised Cardiome Pharma Corp. from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a research note on Monday, May 16th. HC Wainwright initiated coverage on Cardiome Pharma Corp. in a research note on Wednesday, June 1st. They set 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 increased their price objective for the company from $5.20 to $8.60 in a research note on Friday, May 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $8.27.
The stock has a 50 day moving average price of $3.86 and a 200 day moving average price of $4.56. The firm’s market cap is $96.26 million.
Cardiome Pharma Corp. (NASDAQ:CRME) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.18. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. The company earned $5.90 million during the quarter, compared to analyst estimates of $6.73 million. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts predict that Cardiome Pharma Corp. will post ($0.75) earnings per share for the current 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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