Cardiome Pharma Corp (CRME) to Post FY2017 Earnings of ($0.81) Per Share, Zacks Investment Research Forecasts

Cardiome Pharma Corp (NASDAQ:CRME) (TSE:COM) – Zacks Investment Research issued their FY2017 EPS estimates for shares of Cardiome Pharma in a research note issued to investors on Monday. Zacks Investment Research analyst J. Vandermosten expects that the biopharmaceutical company will post earnings per share of ($0.81) for the year. Zacks Investment Research currently has a “Hold” rating on the stock. Zacks Investment Research also issued estimates for Cardiome Pharma’s Q4 2017 earnings at ($0.16) EPS, FY2018 earnings at ($0.66) EPS and FY2019 earnings at ($0.59) EPS.

CRME has been the subject of a number of other reports. Canaccord Genuity set a $5.00 price objective on shares of Cardiome Pharma and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Mackie raised shares of Cardiome Pharma to a “buy” rating in a research report on Friday, December 15th. Finally, HC Wainwright reissued a “buy” rating and set a $9.50 price target on shares of Cardiome Pharma in a research report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Cardiome Pharma presently has an average rating of “Hold” and a consensus price target of $5.50.

Shares of Cardiome Pharma (CRME) opened at $1.52 on Thursday. Cardiome Pharma has a one year low of $1.29 and a one year high of $4.84. The company has a debt-to-equity ratio of 1.67, a current ratio of 5.52 and a quick ratio of 4.71.

Cardiome Pharma (NASDAQ:CRME) (TSE:COM) last released its quarterly earnings data on Tuesday, November 14th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.04). Cardiome Pharma 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 analysts’ expectations of $7.42 million. During the same period last year, the company earned ($0.19) earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year.

An institutional investor recently raised its position in Cardiome Pharma stock. JPMorgan Chase & Co. raised its position in shares of Cardiome Pharma Corp (NASDAQ:CRME) (TSE:COM) by 37.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 155,095 shares of the biopharmaceutical company’s stock after buying an additional 42,416 shares during the quarter. JPMorgan Chase & Co. owned about 0.49% of Cardiome Pharma worth $701,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 52.44% of the company’s stock.

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Cardiome Pharma 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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