Cardiome Pharma Corp. (NASDAQ:CRME) shares hit 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 trading hands. The stock had previously closed at $3.06.

A number of brokerages recently commented 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 objective on the stock in a research report on Monday, July 18th. Brean Capital reissued a “buy” rating on shares of Cardiome Pharma Corp. in a research report on Monday, May 16th. HC Wainwright began coverage on shares of Cardiome Pharma Corp. in a research report on Wednesday, June 1st. They issued a “buy” rating and a $9.50 target price for the company. Finally, Mackie raised shares of Cardiome Pharma Corp. from a “hold” rating to a “speculative buy” rating and boosted their target price for the stock from $5.20 to $8.60 in a research report on Friday, May 6th. 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. The stock currently has a consensus rating of “Hold” and an average target price of $8.27.

The firm’s market capitalization is $96.26 million. The stock’s 50-day moving average price is $3.86 and its 200 day moving average price is $4.56.

Cardiome Pharma Corp. (NASDAQ:CRME) last issued its quarterly earnings results 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. The firm had revenue of $5.90 million for the quarter, compared to the consensus estimate of $6.73 million. The firm’s quarterly revenue 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. On average, equities analysts forecast 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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