Cardiome Pharma Corp. (CRME) Stock Rating Reaffirmed by Mackie
Cardiome Pharma Corp. (NASDAQ:CRME)‘s stock had its “hold” rating reiterated by investment analysts at Mackie in a research report issued to clients and investors on Wednesday. They presently have a $3.50 target price on the biopharmaceutical company’s stock, down from their prior target price of $5.10. Mackie’s price objective points to a potential upside of 12.49% from the stock’s current price.
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Cardiome Pharma Corp. from a “hold” rating to a “strong-buy” rating and set a $6.25 target price for the company in a research report on Monday, July 18th. Brean Capital reaffirmed a “buy” rating and issued a $7.00 target price (down from $10.00) on shares of Cardiome Pharma Corp. in a research report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $7.25.
Cardiome Pharma Corp. (NASDAQ:CRME) traded down 3.58% during trading on Wednesday, reaching $3.00. 31,792 shares of the company traded hands. The firm’s market capitalization is $95.63 million. Cardiome Pharma Corp. has a 12-month low of $2.80 and a 12-month high of $9.25. The firm’s 50 day moving average price is $3.06 and its 200 day moving average price is $4.17.
Cardiome Pharma Corp. (NASDAQ:CRME) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.18. Cardiome Pharma Corp. had a negative return on equity of 111.18% and a negative net margin of 96.91%. The company earned $5.90 million during the quarter, compared to analysts’ expectations of $6.73 million. During the same period in the prior year, the business posted ($0.43) earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities research analysts expect that Cardiome Pharma Corp. will post ($0.75) earnings per share for the current year.
An institutional investor recently bought a new position in Cardiome Pharma Corp. stock. ClariVest Asset Management LLC purchased a new position in shares of Cardiome Pharma Corp. (NASDAQ:CRME) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 21,187 shares of the biopharmaceutical company’s stock, valued at approximately $109,000. ClariVest Asset Management LLC owned approximately 0.10% of Cardiome Pharma Corp. at the end of the most recent reporting period. 37.74% of the stock is currently owned by hedge funds and other institutional investors.
About Cardiome Pharma Corp.
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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