Wall Street brokerages predict that Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) will post ($0.17) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Cardiome Pharma Corporation’s earnings. The highest EPS estimate is ($0.12) and the lowest is ($0.22). Cardiome Pharma Corporation posted earnings of ($0.19) per share in the same quarter last year, which would suggest a positive year over year growth rate of 10.5%. The firm is expected to issue its next earnings results on Monday, November 6th.

On average, analysts expect that Cardiome Pharma Corporation will report full-year earnings of ($0.79) per share for the current year, with EPS estimates ranging from ($0.86) to ($0.73). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.60) per share, with EPS estimates ranging from ($0.70) to ($0.50). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow Cardiome Pharma Corporation.

Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.18) by $0.08. 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 110.95% and a negative return on equity of 78.51%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.37) earnings per share.

Several brokerages recently issued reports on CRME. Zacks Investment Research lowered shares of Cardiome Pharma Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. HC Wainwright set a $10.00 target price on shares of Cardiome Pharma Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 9th. ValuEngine raised shares of Cardiome Pharma Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Cardiome Pharma Corporation in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $5.90.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Knott David M purchased a new position in Cardiome Pharma Corporation during the first quarter worth $230,000. 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 worth $339,000 after buying an additional 57,782 shares during the last quarter. Renaissance Technologies LLC raised its position in Cardiome Pharma Corporation by 32.2% in the fourth quarter. Renaissance Technologies LLC now owns 215,013 shares of the biopharmaceutical company’s stock worth $593,000 after buying an additional 52,400 shares during the last quarter. AlphaOne Investment Services LLC raised its position in Cardiome Pharma Corporation by 14.9% in the second quarter. AlphaOne Investment Services LLC now owns 632,739 shares of the biopharmaceutical company’s stock worth $2,860,000 after buying an additional 82,027 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in Cardiome Pharma Corporation by 8.0% in the second quarter. Westfield Capital Management Co. LP now owns 5,286,340 shares of the biopharmaceutical company’s stock worth $23,894,000 after buying an additional 391,392 shares during the last quarter. 58.28% of the stock is currently owned by institutional investors.

Shares of Cardiome Pharma Corporation (CRME) traded up 0.77% during midday trading on Wednesday, reaching $3.94. 1,128 shares of the company’s stock traded hands. The firm’s market cap is $125.79 million. The company has a 50 day moving average of $4.36 and a 200 day moving average of $3.59. Cardiome Pharma Corporation has a 52-week low of $2.35 and a 52-week high of $4.84.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of United States & international trademark and copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/16/analysts-expect-cardiome-pharma-corporation-crme-will-announce-earnings-of-0-17-per-share.html.

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.

Get a free copy of the Zacks research report on Cardiome Pharma Corporation (CRME)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.