Cardiome Pharma’s (CRME) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) in a report released on Wednesday. The firm currently has a $9.50 target price on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity set a $8.00 price objective on shares of Cardiome Pharma and gave the stock a buy rating in a research note on Monday, August 21st. Zacks Investment Research upgraded shares of Cardiome Pharma from a hold rating to a buy rating and set a $2.00 price objective on the stock in a research note on Wednesday, November 1st. Finally, ValuEngine upgraded shares of Cardiome Pharma from a sell rating to a hold rating in a research note on Thursday, July 27th. 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 presently has a consensus rating of Hold and an average target price of $5.31.

Shares of Cardiome Pharma (CRME) opened at $1.53 on Wednesday. Cardiome Pharma has a 12 month low of $1.29 and a 12 month high of $4.84. The company has a quick ratio of 4.71, a current ratio of 5.52 and a debt-to-equity ratio of 1.67.

Cardiome Pharma (NASDAQ:CRME) (TSE:COM) last released its quarterly earnings data on Tuesday, November 14th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The business had revenue of $6.02 million for the quarter, compared to analyst estimates of $7.42 million. Cardiome Pharma had a negative return on equity of 94.68% and a negative net margin of 112.91%. Cardiome Pharma’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.19) EPS. equities analysts expect that Cardiome Pharma will post -0.84 earnings per share for the current year.

Several large investors have recently made changes to their positions in the business. Westfield Capital Management Co. LP increased its stake in shares of Cardiome Pharma 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 purchasing an additional 391,392 shares during the period. Stonepine Capital Management LLC increased its stake in shares of Cardiome Pharma by 79.7% in the third quarter. Stonepine Capital Management LLC now owns 2,866,785 shares of the biopharmaceutical company’s stock valued at $6,106,000 after purchasing an additional 1,271,236 shares during the period. AlphaOne Investment Services LLC increased its stake in shares of Cardiome Pharma 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 purchasing an additional 82,027 shares during the period. Renaissance Technologies LLC increased its stake in shares of Cardiome Pharma 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 purchasing an additional 38,400 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Cardiome Pharma 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 purchasing an additional 42,416 shares during the period. Institutional investors own 55.12% of the company’s stock.

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Cardiome Pharma 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.

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