Canaccord Genuity set a $5.00 target price on Cardiome Pharma (NASDAQ:CRME) (TSE:COM) in a research report sent to investors on Wednesday. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms also recently issued reports on CRME. HC Wainwright set a $10.00 target price on shares of Cardiome Pharma and gave the company a buy rating in a report on Wednesday. Mackie upgraded shares of Cardiome Pharma to a buy rating in a research note on Friday, December 15th. One 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. The company has an average rating of Hold and a consensus price target of $5.67.

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Shares of CRME stock opened at $1.85 on Wednesday. Cardiome Pharma has a twelve month low of $1.29 and a twelve month high of $4.84. The stock has a market cap of $62.00, a P/E ratio of -2.06 and a beta of 0.65. The company has a debt-to-equity ratio of 1.67, a current ratio of 5.52 and a quick ratio of 4.71.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its stake in Cardiome Pharma by 18.3% during the fourth quarter. Renaissance Technologies LLC now owns 486,613 shares of the biopharmaceutical company’s stock worth $754,000 after buying an additional 75,200 shares during the period. Tamarack Advisers LP boosted its stake in shares of Cardiome Pharma by 7.1% in the fourth quarter. Tamarack Advisers LP now owns 1,875,000 shares of the biopharmaceutical company’s stock valued at $2,906,000 after purchasing an additional 125,000 shares during the period. Finally, Stonepine Capital Management LLC boosted its stake in shares of Cardiome Pharma by 11.5% in the fourth quarter. Stonepine Capital Management LLC now owns 3,195,692 shares of the biopharmaceutical company’s stock valued at $4,953,000 after purchasing an additional 328,907 shares during the period. Institutional investors own 50.84% 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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