ValuEngine Upgrades Cardiome Pharma Corporation (NASDAQ:CRME) to “Hold”

Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report released on Thursday, July 27th.

Several other analysts have also weighed in on CRME. Zacks Investment Research lowered Cardiome Pharma Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $5.90.

Shares of Cardiome Pharma Corporation (NASDAQ CRME) traded down 0.26% during mid-day trading on Thursday, reaching $3.90. 25,807 shares of the company traded hands. Cardiome Pharma Corporation has a 52-week low of $2.35 and a 52-week high of $4.84. The company’s market capitalization is $124.52 million. The firm’s 50 day moving average price is $4.36 and its 200-day moving average price is $3.59.

Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by $0.08. The firm had revenue of $5.75 million during the quarter, compared to analyst estimates of $6.88 million. Cardiome Pharma Corporation had a negative net margin of 110.95% and a negative return on equity of 78.51%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.37) EPS. Equities analysts predict that Cardiome Pharma Corporation will post ($0.75) earnings per share for the current fiscal year.

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Several large investors have recently made changes to their positions in CRME. AlphaOne Investment Services LLC increased 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 valued at $2,860,000 after buying an additional 82,027 shares in the last quarter. Westfield Capital Management Co. LP increased 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 valued at $23,894,000 after buying an additional 391,392 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Cardiome Pharma Corporation by 37.6% in the second quarter. JPMorgan Chase & Co. now owns 155,095 shares of the biopharmaceutical company’s stock valued at $701,000 after buying an additional 42,416 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Cardiome Pharma Corporation by 17.9% in the first quarter. Renaissance Technologies LLC now owns 253,413 shares of the biopharmaceutical company’s stock valued at $763,000 after buying an additional 38,400 shares in the last quarter. Finally, Knott David M bought a new stake in shares of Cardiome Pharma Corporation during the first quarter valued at approximately $230,000. 58.28% of the stock is owned by institutional investors and hedge funds.

Cardiome Pharma Corporation 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Cardiome Pharma Corporation (NASDAQ:CRME)

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