Cardiome Pharma Corp (CRME) Expected to Post Earnings of -$0.19 Per Share
Equities research analysts forecast that Cardiome Pharma Corp (NASDAQ:CRME) (TSE:COM) will post earnings per share (EPS) of ($0.19) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Cardiome Pharma’s earnings, with estimates ranging from ($0.22) to ($0.17). Cardiome Pharma posted earnings per share of ($0.18) in the same quarter last year, which would suggest a negative year over year growth rate of 5.6%. The company is expected to report its next earnings results on Tuesday, March 6th.
According to Zacks, analysts expect that Cardiome Pharma will report full year earnings of ($0.84) per share for the current fiscal year, with EPS estimates ranging from ($0.88) to ($0.81). For the next year, analysts anticipate that the business will post earnings of ($0.72) per share, with EPS estimates ranging from ($0.89) to ($0.59). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Cardiome Pharma.
Cardiome Pharma (NASDAQ:CRME) (TSE:COM) last announced its quarterly earnings data on Tuesday, November 14th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The firm had revenue of $6.02 million during the quarter, compared to the consensus estimate of $7.42 million. Cardiome Pharma had a negative net margin of 112.91% and a negative return on equity of 94.68%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the business earned ($0.19) earnings per share.
Shares of Cardiome Pharma (NASDAQ CRME) traded up $0.03 during trading hours on Wednesday, reaching $1.57. 51,442 shares of the company were exchanged, compared to its average volume of 93,501. The company has a market capitalization of $54.30, a PE ratio of -1.89 and a beta of 0.83. The company has a debt-to-equity ratio of 1.67, a current ratio of 5.52 and a quick ratio of 4.71. Cardiome Pharma has a fifty-two week low of $1.29 and a fifty-two week high of $4.84.
Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Cardiome Pharma by 37.6% during the second quarter. JPMorgan Chase & Co. now owns 155,095 shares of the biopharmaceutical company’s stock worth $701,000 after purchasing an additional 42,416 shares during the period. AlphaOne Investment Services LLC lifted its holdings in 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 buying an additional 82,027 shares during the period. Stonepine Capital Management LLC lifted its holdings in 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 buying an additional 1,271,236 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in 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 buying an additional 391,392 shares during the period. Institutional investors own 52.48% of the company’s stock.
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About Cardiome Pharma
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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