Cardiome Pharma (NASDAQ:CRME) (TSE:COM) received a $5.00 target price from equities researchers at Canaccord Genuity in a report released on Wednesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s target price would suggest a potential upside of 170.27% from the company’s previous close.

Other research analysts also recently issued reports about the company. HC Wainwright set a $10.00 price objective on Cardiome Pharma and gave the company a “buy” rating in a research note on Wednesday. Mackie raised Cardiome Pharma to a “buy” rating in a research note on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.67.

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CRME stock opened at $1.85 on Wednesday. Cardiome Pharma has a 52 week low of $1.29 and a 52 week high of $4.84. The company has a quick ratio of 4.71, a current ratio of 5.52 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $62.00, a price-to-earnings ratio of -2.06 and a beta of 0.65.

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its stake in shares of Cardiome Pharma by 18.3% in the 4th quarter. Renaissance Technologies LLC now owns 486,613 shares of the biopharmaceutical company’s stock worth $754,000 after acquiring an additional 75,200 shares during the last quarter. Tamarack Advisers LP increased its stake in shares of Cardiome Pharma by 7.1% in the 4th quarter. Tamarack Advisers LP now owns 1,875,000 shares of the biopharmaceutical company’s stock worth $2,906,000 after acquiring an additional 125,000 shares during the last quarter. Finally, Stonepine Capital Management LLC increased its stake in shares of Cardiome Pharma by 11.5% in the 4th quarter. Stonepine Capital Management LLC now owns 3,195,692 shares of the biopharmaceutical company’s stock worth $4,953,000 after acquiring an additional 328,907 shares during the last quarter. 50.84% of the stock is owned by institutional investors and hedge funds.

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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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