Cardiome Pharma Corporation (CRME) Given Average Rating of “Hold” by Brokerages
Shares of Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) have earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $6.56.
Several equities research analysts recently issued reports on CRME shares. Canaccord Genuity set a $8.00 target price on shares of Cardiome Pharma Corporation and gave the stock a “buy” rating in a report on Monday, August 21st. ValuEngine cut shares of Cardiome Pharma Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. 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 target price on shares of Cardiome Pharma Corporation and gave the stock a “buy” rating in a report on Tuesday, August 22nd.
Shares of Cardiome Pharma Corporation (NASDAQ CRME) traded down 0.85% during trading on Friday, hitting $2.34. The stock had a trading volume of 108,461 shares. Cardiome Pharma Corporation has a 52-week low of $2.09 and a 52-week high of $4.84. The stock has a 50 day moving average of $3.15 and a 200 day moving average of $3.53. The firm’s market cap is $79.09 million.
Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $5.75 million for the quarter, compared to the consensus estimate of $6.88 million. During the same period last year, the business earned ($0.37) EPS. Cardiome Pharma Corporation’s revenue was down 2.5% on a year-over-year basis. On average, equities analysts anticipate that Cardiome Pharma Corporation will post ($0.69) EPS for the current year.
A number of hedge funds have recently modified their holdings of CRME. Knott David M purchased a new stake in Cardiome Pharma Corporation in the first quarter worth approximately $230,000. JPMorgan Chase & Co. boosted its holdings 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 purchasing an additional 57,782 shares during the last quarter. Renaissance Technologies LLC boosted its holdings 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 worth $763,000 after purchasing an additional 38,400 shares during the last quarter. AlphaOne Investment Services LLC boosted its holdings 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 purchasing an additional 82,027 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings 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 purchasing an additional 391,392 shares during the last quarter. Institutional investors own 55.12% of the company’s stock.
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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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