Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) has been assigned a $5.00 target price by equities researchers at Canaccord Genuity in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s price target points to a potential upside of 267.65% from the stock’s current price.

A number of other research analysts also recently issued reports on CRME. Zacks Investment Research downgraded shares of Cardiome Pharma Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. HC Wainwright set a $10.00 price target on shares of Cardiome Pharma Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, ValuEngine downgraded shares of Cardiome Pharma Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Cardiome Pharma Corporation presently has a consensus rating of “Hold” and an average price target of $5.44.

Shares of Cardiome Pharma Corporation (NASDAQ CRME) traded up $0.07 during mid-day trading on Wednesday, reaching $1.36. 68,901 shares of the company’s stock traded hands, compared to its average volume of 194,958. The company has a quick ratio of 4.71, a current ratio of 5.52 and a debt-to-equity ratio of 1.67. Cardiome Pharma Corporation has a 52 week low of $1.29 and a 52 week high of $4.84.

Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) last posted its quarterly earnings results on Tuesday, November 14th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.04). Cardiome Pharma Corporation had a negative return on equity of 94.68% and a negative net margin of 112.91%. The business had revenue of $6.02 million during the quarter, compared to the consensus estimate of $7.42 million. During the same quarter in the previous year, the business posted ($0.19) earnings per share. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. equities analysts forecast that Cardiome Pharma Corporation will post -0.79 earnings per share for the current fiscal year.

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A number of large investors have recently modified their holdings of CRME. JPMorgan Chase & Co. lifted its position 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 valued at $339,000 after purchasing an additional 57,782 shares during the last quarter. Renaissance Technologies LLC lifted its position 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 valued at $763,000 after purchasing an additional 38,400 shares during the last quarter. AlphaOne Investment Services LLC lifted its position 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 valued at $2,860,000 after purchasing an additional 82,027 shares during the last quarter. Stonepine Capital Management LLC lifted its position in Cardiome Pharma Corporation by 79.7% in the 3rd quarter. Stonepine Capital Management LLC now owns 2,866,785 shares of the biopharmaceutical company’s stock valued at $6,106,000 after purchasing an additional 1,271,236 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position 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 valued at $23,894,000 after purchasing an additional 391,392 shares during the last quarter. Hedge funds and other institutional investors own 55.12% of the company’s stock.

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.

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