Cardiome Pharma Corporation (CRME) Announces Earnings Results
Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) posted its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.08, Briefing.com reports. The company had revenue of $5.75 million during the quarter, compared to the consensus estimate of $6.88 million. Cardiome Pharma Corporation had a negative net margin of 105.93% and a negative return on equity of 86.01%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.37) earnings per share.
Cardiome Pharma Corporation (CRME) traded down 1.91% during mid-day trading on Tuesday, hitting $4.11. The stock had a trading volume of 36,768 shares. Cardiome Pharma Corporation has a 1-year low of $2.35 and a 1-year high of $4.84. The stock’s market cap is $131.22 million. The firm’s 50-day moving average price is $4.36 and its 200-day moving average price is $3.52.
COPYRIGHT VIOLATION WARNING: This article was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://www.americanbankingnews.com/2017/08/08/cardiome-pharma-corporation-crme-releases-earnings-results-misses-expectations-by-0-09-eps.html.
CRME has been the subject of a number of recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Cardiome Pharma Corporation in a research report on Monday, July 17th. Zacks Investment Research raised Cardiome Pharma Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Finally, ValuEngine raised Cardiome Pharma Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $6.08.
Several institutional investors have recently added to or reduced their stakes in CRME. Renaissance Technologies LLC raised its position in Cardiome Pharma Corporation by 17.9% in the first quarter. Renaissance Technologies LLC now owns 253,413 shares of the biopharmaceutical company’s stock valued at $763,000 after buying an additional 38,400 shares in the last quarter. Knott David M acquired a new position in Cardiome Pharma Corporation during the first quarter valued at about $230,000. Finally, JPMorgan Chase & Co. raised its position in Cardiome Pharma Corporation by 105.3% in the first quarter. JPMorgan Chase & Co. now owns 112,679 shares of the biopharmaceutical company’s stock valued at $339,000 after buying an additional 57,782 shares in the last quarter. 58.36% of the stock is owned by institutional investors.
Cardiome Pharma Corporation Company Profile
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.
Receive News & Ratings for Cardiome Pharma Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardiome Pharma Corporation and related companies with MarketBeat.com's FREE daily email newsletter.