HC Wainwright set a $10.00 price objective on Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) in a research report released on Tuesday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.

CRME has been the subject of a number of other reports. Zacks Investment Research upgraded Cardiome Pharma Corporation from a sell rating to a hold rating in a report on Tuesday, July 18th. Canaccord Genuity restated a buy rating and issued a $8.00 price objective on shares of Cardiome Pharma Corporation in a report on Monday, July 17th. Finally, ValuEngine upgraded Cardiome Pharma Corporation from a sell rating to a hold rating in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $5.90.

Shares of Cardiome Pharma Corporation (CRME) opened at 2.27 on Tuesday. The firm’s market cap is $76.73 million. The stock has a 50 day moving average price of $4.04 and a 200 day moving average price of $3.58. Cardiome Pharma Corporation has a one year low of $2.09 and a one year high of $4.84.

Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by $0.08. The company had revenue of $5.75 million for the quarter, compared to analyst estimates of $6.88 million. Cardiome Pharma Corporation had a negative return on equity of 78.51% and a negative net margin of 110.95%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.37) earnings per share. On average, equities research analysts forecast that Cardiome Pharma Corporation will post ($0.70) EPS for the current year.

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A number of hedge funds have recently modified their holdings of the stock. Knott David M purchased a new stake in shares of Cardiome Pharma Corporation during the first quarter worth approximately $230,000. Renaissance Technologies LLC boosted its stake in shares of Cardiome Pharma Corporation by 32.2% in the fourth quarter. Renaissance Technologies LLC now owns 215,013 shares of the biopharmaceutical company’s stock worth $593,000 after buying an additional 52,400 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Cardiome Pharma Corporation by 105.3% in the first quarter. JPMorgan Chase & Co. now owns 112,679 shares of the biopharmaceutical company’s stock worth $339,000 after buying an additional 57,782 shares during the period. AlphaOne Investment Services LLC boosted its stake in shares of Cardiome Pharma Corporation by 14.9% in the second quarter. AlphaOne Investment Services LLC now owns 632,739 shares of the biopharmaceutical company’s stock worth $2,860,000 after buying an additional 82,027 shares during the period. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Cardiome Pharma Corporation by 8.0% in the second quarter. Westfield Capital Management Co. LP now owns 5,286,340 shares of the biopharmaceutical company’s stock worth $23,894,000 after buying an additional 391,392 shares during the period. 58.28% of the stock is currently owned by institutional investors and hedge funds.

About Cardiome Pharma Corporation

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.

Analyst Recommendations for Cardiome Pharma Corporation (NASDAQ:CRME)

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