Shares of Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) have received an average recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $6.19.

A number of research firms have commented on CRME. Zacks Investment Research upgraded Cardiome Pharma Corporation from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a research note on Wednesday. ValuEngine cut Cardiome Pharma Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. HC Wainwright set a $10.00 price objective on Cardiome Pharma Corporation and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Finally, Canaccord Genuity set a $8.00 price objective on Cardiome Pharma Corporation and gave the company a “buy” rating in a research note on Monday, August 21st.

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Cardiome Pharma Corporation (NASDAQ:CRME) traded up $0.01 on Friday, reaching $1.63. The company had a trading volume of 83,935 shares, compared to its average volume of 221,589. The company has a debt-to-equity ratio of 0.99, a quick ratio of 4.12 and a current ratio of 4.81. Cardiome Pharma Corporation has a 12-month low of $1.29 and a 12-month high of $4.84.

Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). Cardiome Pharma Corporation had a negative return on equity of 78.51% and a negative net margin of 110.95%. The firm had revenue of $5.75 million for the quarter, compared to analyst estimates of $6.88 million. During the same quarter last year, the company earned ($0.37) earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. analysts anticipate that Cardiome Pharma Corporation will post -0.77 EPS for the current year.

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased 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 valued at $339,000 after buying an additional 57,782 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Cardiome Pharma Corporation by 17.9% during 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 grew its holdings in shares of Cardiome Pharma Corporation by 14.9% during 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 grew its holdings in shares of Cardiome Pharma Corporation by 8.0% during 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. 55.21% of the stock is currently owned by hedge funds and other institutional investors.

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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