Shares of Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) have been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $6.56.

CRME has been the subject of several research reports. ValuEngine lowered 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 price target on Cardiome Pharma Corporation and gave the company a “buy” rating in a report on Monday, August 21st. Zacks Investment Research lowered Cardiome Pharma Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, HC Wainwright set a $10.00 price target on Cardiome Pharma Corporation and gave the company a “buy” rating in a report on Tuesday, August 22nd.

Cardiome Pharma Corporation (NASDAQ:CRME) remained flat at $2.05 during mid-day trading on Wednesday. The company had a trading volume of 149,934 shares. Cardiome Pharma Corporation has a one year low of $1.99 and a one year high of $4.84. The company’s 50 day moving average is $2.25 and its 200-day moving average is $3.42. The company’s market capitalization is $69.29 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.08). The firm had revenue of $5.75 million for the quarter, compared to analyst estimates 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 firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.37) earnings per share. Equities research analysts predict that Cardiome Pharma Corporation will post ($0.69) earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. AlphaOne Investment Services LLC lifted its holdings in 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 purchasing an additional 82,027 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in 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 purchasing an additional 391,392 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in 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 purchasing an additional 38,400 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in 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 purchasing an additional 57,782 shares during the last quarter. Hedge funds and other institutional investors own 55.24% of the company’s stock.

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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.

Analyst Recommendations for Cardiome Pharma Corporation (NASDAQ:CRME)

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