Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.

Other analysts have also issued research reports about the company. HC Wainwright set a $10.00 target price on Cardiome Pharma Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. Canaccord Genuity set a $8.00 target price on Cardiome Pharma Corporation and gave the stock a “buy” rating in a research note on Monday, August 21st. Finally, Zacks Investment Research upgraded Cardiome Pharma Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.90.

Cardiome Pharma Corporation (CRME) traded up 0.82% on Friday, hitting $2.46. 56,722 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $3.75 and a 200-day moving average price of $3.57. Cardiome Pharma Corporation has a 12 month low of $2.09 and a 12 month high of $4.84. The stock’s market cap is $83.15 million.

Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by $0.08. Cardiome Pharma Corporation had a negative return on equity of 78.51% and a negative net margin of 110.95%. The business had revenue of $5.75 million during the quarter, compared to analysts’ expectations of $6.88 million. During the same quarter in the previous year, the business earned ($0.37) EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts predict that Cardiome Pharma Corporation will post ($0.70) earnings per share for the current fiscal year.

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Several institutional investors have recently bought and sold shares of the company. Knott David M purchased a new position in Cardiome Pharma Corporation during the first quarter worth about $230,000. JPMorgan Chase & Co. increased its position in 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 last quarter. Renaissance Technologies LLC increased its position in Cardiome Pharma Corporation by 17.9% in the first quarter. Renaissance Technologies LLC now owns 253,413 shares of the biopharmaceutical company’s stock worth $763,000 after buying an additional 38,400 shares during the last quarter. AlphaOne Investment Services LLC increased its position in 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 last quarter. Finally, Westfield Capital Management Co. LP increased its position in 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 last quarter. 55.12% of the stock is currently 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.

Analyst Recommendations for Cardiome Pharma Corporation (NASDAQ:CRME)

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