Wall Street analysts expect that Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) will announce earnings of ($0.17) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Cardiome Pharma Corporation’s earnings. The highest EPS estimate is ($0.12) and the lowest is ($0.22). Cardiome Pharma Corporation posted earnings of ($0.19) per share in the same quarter last year, which suggests a positive year over year growth rate of 10.5%. The business is scheduled to announce its next earnings report on Monday, November 6th.

According to Zacks, analysts expect that Cardiome Pharma Corporation will report full-year earnings of ($0.79) per share for the current fiscal year, with EPS estimates ranging from ($0.86) to ($0.73). For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.60) per share, with EPS estimates ranging from ($0.70) to ($0.50). Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Cardiome Pharma Corporation.

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

Several brokerages have commented on CRME. Canaccord Genuity reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Cardiome Pharma Corporation in a research report on Monday, July 17th. HC Wainwright set a $10.00 price objective on shares of Cardiome Pharma Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 9th. ValuEngine raised shares of Cardiome Pharma Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Cardiome Pharma Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. One equities 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’s stock. The company has an average rating of “Hold” and an average price target of $5.90.

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A number of hedge funds have recently made changes to their positions in CRME. AlphaOne Investment Services LLC raised 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 raised 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. raised 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 raised 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 currently owned by institutional investors and hedge funds.

Shares of Cardiome Pharma Corporation (NASDAQ CRME) traded up 0.77% on Wednesday, reaching $3.94. 1,128 shares of the company were exchanged. Cardiome Pharma Corporation has a 12-month low of $2.35 and a 12-month high of $4.84. The company’s 50 day moving average is $4.36 and its 200 day moving average is $3.59. The firm’s market capitalization is $125.79 million.

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.

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