Cardiome Pharma Corp.’s (CRME) Buy Rating Reiterated at Bloom Burton
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Cardiome Pharma Corp. from a sell rating to a hold rating in a research report on Thursday. Mackie reiterated a hold rating and set a $3.50 price target (down from $5.10) on shares of Cardiome Pharma Corp. in a research report on Wednesday, October 12th. Finally, Brean Capital reiterated a buy rating and set a $7.00 price target (down from $10.00) on shares of Cardiome Pharma Corp. in a research report on Monday, August 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Cardiome Pharma Corp. presently has an average rating of Buy and a consensus target price of $7.25.
Cardiome Pharma Corp. (NASDAQ:CRME) opened at 2.94 on Wednesday. Cardiome Pharma Corp. has a one year low of $2.35 and a one year high of $9.21. The company’s market cap is $93.71 million. The company has a 50-day moving average of $2.97 and a 200-day moving average of $3.90.
Cardiome Pharma Corp. (NASDAQ:CRME) last announced its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.01. Cardiome Pharma Corp. had a negative return on equity of 92.96% and a negative net margin of 93.43%. The business had revenue of $5.20 million for the quarter, compared to analysts’ expectations of $5.68 million. During the same period in the previous year, the business posted ($0.31) EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts expect that Cardiome Pharma Corp. will post ($0.73) EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Tamarack Advisers LP purchased a new stake in shares of Cardiome Pharma Corp. during the third quarter valued at about $6,941,000. PNC Financial Services Group Inc. raised its stake in shares of Cardiome Pharma Corp. by 49.0% in the third quarter. PNC Financial Services Group Inc. now owns 53,000 shares of the biopharmaceutical company’s stock valued at $166,000 after buying an additional 17,420 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Cardiome Pharma Corp. during the second quarter valued at about $109,000. 37.74% of the stock is owned by institutional investors and hedge funds.
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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