Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) received a $5.00 price target from research analysts at Canaccord Genuity in a report released on Wednesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s price objective suggests a potential upside of 262.32% from the stock’s current price.

A number of other equities research analysts also recently issued reports on CRME. Zacks Investment Research raised Cardiome Pharma Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. ValuEngine raised Cardiome Pharma Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, HC Wainwright set a $10.00 price target on Cardiome Pharma Corporation and gave the company a “buy” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Cardiome Pharma Corporation currently has an average rating of “Hold” and an average target price of $5.44.

Shares of Cardiome Pharma Corporation (NASDAQ:CRME) opened at $1.38 on Wednesday. Cardiome Pharma Corporation has a 1 year low of $1.29 and a 1 year high of $4.84. The company has a debt-to-equity ratio of 0.99, a current ratio of 4.81 and a quick ratio of 4.12.

Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) last posted its quarterly earnings results on Tuesday, November 14th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.04). Cardiome Pharma Corporation had a negative net margin of 112.91% and a negative return on equity of 89.19%. The firm had revenue of $6.02 million for the quarter, compared to analysts’ expectations of $7.42 million. During the same period last year, the firm posted ($0.19) EPS. Cardiome Pharma Corporation’s revenue was up 14.9% on a year-over-year basis. equities analysts predict that Cardiome Pharma Corporation will post -0.77 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of the business. Westfield Capital Management Co. LP lifted its stake in shares of Cardiome Pharma Corporation by 8.0% during 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 purchasing an additional 391,392 shares in the last quarter. Stonepine Capital Management LLC lifted its stake in shares of Cardiome Pharma Corporation by 79.7% during the third quarter. Stonepine Capital Management LLC now owns 2,866,785 shares of the biopharmaceutical company’s stock worth $6,106,000 after purchasing an additional 1,271,236 shares in the last quarter. AlphaOne Investment Services LLC lifted its stake in shares of Cardiome Pharma Corporation by 14.9% during the second quarter. AlphaOne Investment Services LLC now owns 632,739 shares of the biopharmaceutical company’s stock worth $2,860,000 after purchasing an additional 82,027 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Cardiome Pharma Corporation by 17.9% during the first quarter. Renaissance Technologies LLC now owns 253,413 shares of the biopharmaceutical company’s stock worth $763,000 after purchasing an additional 38,400 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Cardiome Pharma Corporation 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 in the last quarter. Institutional investors own 55.05% of the company’s stock.

About Cardiome Pharma Corporation

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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