Analysts Set Cardiome Pharma Corporation (CRME) PT at $6.56
Shares of Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) have been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $7.58.
CRME has been the subject of several research analyst reports. ValuEngine cut shares of Cardiome Pharma Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Canaccord Genuity set a $8.00 target price on shares of Cardiome Pharma Corporation and gave the company a “buy” rating in a report on Monday, August 21st. Zacks Investment Research upgraded shares of Cardiome Pharma Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, HC Wainwright set a $10.00 price target on shares of Cardiome Pharma Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 22nd.
Shares of Cardiome Pharma Corporation (NASDAQ CRME) traded down 1.49% during midday trading on Wednesday, reaching $1.98. 161,826 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $2.23 and its 200 day moving average price is $3.40. Cardiome Pharma Corporation has a 1-year low of $1.97 and a 1-year high of $4.84. The stock’s market capitalization is $66.93 million.
Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.08). Cardiome Pharma Corporation had a negative net margin of 110.95% and a negative return on equity of 78.51%. The company had revenue of $5.75 million during the quarter, compared to analyst estimates of $6.88 million. During the same quarter in the previous year, the company posted ($0.37) EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts predict that Cardiome Pharma Corporation will post ($0.69) earnings per share for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Cardiome Pharma Corporation by 105.3% in the 1st quarter. JPMorgan Chase & Co. now owns 112,679 shares of the biopharmaceutical company’s stock worth $339,000 after acquiring an additional 57,782 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Cardiome Pharma Corporation by 17.9% in the 1st quarter. Renaissance Technologies LLC now owns 253,413 shares of the biopharmaceutical company’s stock worth $763,000 after acquiring an additional 38,400 shares during the period. AlphaOne Investment Services LLC lifted its stake in shares of Cardiome Pharma Corporation by 14.9% in the 2nd quarter. AlphaOne Investment Services LLC now owns 632,739 shares of the biopharmaceutical company’s stock worth $2,860,000 after acquiring an additional 82,027 shares during the period. Finally, Westfield Capital Management Co. LP lifted its stake in shares of Cardiome Pharma Corporation by 8.0% in the 2nd quarter. Westfield Capital Management Co. LP now owns 5,286,340 shares of the biopharmaceutical company’s stock worth $23,894,000 after acquiring an additional 391,392 shares during the period. Institutional investors own 55.24% of the company’s stock.
About Cardiome Pharma Corporation
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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