Cardiome Pharma Corp. (CRME) Stock Rating Reaffirmed by Mackie
Cardiome Pharma Corp. (NASDAQ:CRME)‘s stock had its “hold” rating reiterated by analysts at Mackie in a research report issued on Wednesday. They currently have a $3.50 target price on the biopharmaceutical company’s stock, down from their prior target price of $5.10. Mackie’s target price points to a potential upside of 12.49% from the company’s previous close.
CRME has been the subject of a number of other reports. Brean Capital reissued a “buy” rating and set a $7.00 price objective (down from $10.00) on shares of Cardiome Pharma Corp. in a research report on Monday, August 15th. Zacks Investment Research downgraded Cardiome Pharma Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 26th. 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. Cardiome Pharma Corp. has an average rating of “Hold” and a consensus target price of $7.25.
Shares of Cardiome Pharma Corp. (NASDAQ:CRME) traded down 3.58% during mid-day trading on Wednesday, hitting $3.00. 31,792 shares of the stock were exchanged. Cardiome Pharma Corp. has a 52-week low of $2.80 and a 52-week high of $9.25. The firm’s market cap is $95.63 million. The stock has a 50-day moving average price of $3.06 and a 200 day moving average price of $4.17.
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Cardiome Pharma Corp. (NASDAQ:CRME) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.18. The business had revenue of $5.90 million for the quarter, compared to analyst estimates 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 firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.43) earnings per share. On average, equities research analysts expect that Cardiome Pharma Corp. will post ($0.75) earnings per share for the current year.
A hedge fund recently raised its stake in Cardiome Pharma Corp. stock. Renaissance Technologies LLC boosted its stake in shares of Cardiome Pharma Corp. (NASDAQ:CRME) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,313 shares of the biopharmaceutical company’s stock after buying an additional 3,100 shares during the period. Renaissance Technologies LLC owned about 0.32% of Cardiome Pharma Corp. worth $267,000 as of its most recent filing with the SEC. 37.74% of the stock is owned by institutional investors.
About Cardiome Pharma Corp.
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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