Zacks: Analysts Expect Cardiome Pharma Corp (CRME) Will Announce Earnings of -$0.19 Per Share

Equities analysts expect Cardiome Pharma Corp (NASDAQ:CRME) (TSE:COM) to post earnings of ($0.19) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Cardiome Pharma’s earnings, with the lowest EPS estimate coming in at ($0.22) and the highest estimate coming in at ($0.16). Cardiome Pharma posted earnings of ($0.18) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 5.6%. The firm is expected to issue its next earnings report on Tuesday, March 6th.

According to Zacks, analysts expect that Cardiome Pharma will report full year earnings of ($0.84) per share for the current financial year, with EPS estimates ranging from ($0.88) to ($0.81). For the next year, analysts expect that the company will post earnings of ($0.71) per share, with EPS estimates ranging from ($0.89) to ($0.59). Zacks’ earnings per share averages are an average based on a survey of research firms that follow Cardiome Pharma.

Cardiome Pharma (NASDAQ:CRME) (TSE:COM) last issued 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). The business had revenue of $6.02 million for the quarter, compared to the consensus estimate of $7.42 million. Cardiome Pharma had a negative net margin of 112.91% and a negative return on equity of 94.68%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) EPS.

A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Cardiome Pharma from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a research report on Wednesday, November 1st. Canaccord Genuity set a $5.00 target price on Cardiome Pharma and gave the stock a “buy” rating in a research report on Wednesday, November 15th. HC Wainwright restated a “buy” rating and issued a $9.50 target price on shares of Cardiome Pharma in a research report on Wednesday, November 22nd. Finally, Mackie upgraded Cardiome Pharma to a “buy” rating in a research report on Friday, December 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Cardiome Pharma has a consensus rating of “Hold” and a consensus price target of $5.50.

An institutional investor recently raised its position in Cardiome Pharma stock. JPMorgan Chase & Co. grew its holdings in shares of Cardiome Pharma Corp (NASDAQ:CRME) (TSE:COM) by 37.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 155,095 shares of the biopharmaceutical company’s stock after buying an additional 42,416 shares during the period. JPMorgan Chase & Co. owned 0.49% of Cardiome Pharma worth $701,000 as of its most recent SEC filing. 52.45% of the stock is owned by institutional investors.

Shares of Cardiome Pharma (NASDAQ:CRME) traded down $0.06 on Tuesday, hitting $1.41. The stock had a trading volume of 49,996 shares, compared to its average volume of 69,063. The company has a market cap of $50.01, a P/E ratio of -1.70 and a beta of 0.59. The company has a current ratio of 5.52, a quick ratio of 4.71 and a debt-to-equity ratio of 1.67. Cardiome Pharma has a 12-month low of $1.29 and a 12-month high of $4.84.

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About Cardiome Pharma

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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