Mackie upgraded shares of Cardiome Pharma (NASDAQ:CRME) (TSE:COM) to a buy rating in a research note issued to investors on Friday.

A number of other analysts have also recently commented on CRME. Canaccord Genuity set a $8.00 target price on shares of Cardiome Pharma and gave the stock a buy rating in a research note on Monday, August 21st. ValuEngine cut shares of Cardiome Pharma from a hold rating to a sell rating in a research note on Tuesday, August 22nd. HC Wainwright set a $10.00 target price on shares of Cardiome Pharma and gave the stock a buy rating in a research note on Tuesday, August 22nd. Finally, Zacks Investment Research upgraded shares of Cardiome Pharma from a sell rating to a hold rating in a research note on Tuesday, October 10th. One research analyst has 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. Cardiome Pharma has an average rating of Buy and a consensus price target of $5.31.

Shares of Cardiome Pharma (NASDAQ:CRME) opened at $1.45 on Friday. The company has a quick ratio of 4.71, a current ratio of 5.52 and a debt-to-equity ratio of 1.67. Cardiome Pharma has a 12 month low of $1.29 and a 12 month high of $4.84.

Cardiome Pharma (NASDAQ:CRME) (TSE:COM) last released its earnings results on Tuesday, November 14th. The biopharmaceutical company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The company had revenue of $6.02 million during the quarter, compared to analyst estimates of $7.42 million. Cardiome Pharma had a negative return on equity of 94.68% and a negative net margin of 112.91%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.19) earnings per share. research analysts forecast that Cardiome Pharma will post -0.84 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. AlphaOne Investment Services LLC raised its position in Cardiome Pharma by 14.9% during the 2nd 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. Westfield Capital Management Co. LP raised its position in Cardiome Pharma by 8.0% during the 2nd 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. JPMorgan Chase & Co. raised its position in Cardiome Pharma by 37.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 155,095 shares of the biopharmaceutical company’s stock worth $701,000 after buying an additional 42,416 shares during the last quarter. Renaissance Technologies LLC raised its position in Cardiome Pharma by 17.9% during the 1st 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. Finally, Stonepine Capital Management LLC raised its position in Cardiome Pharma by 79.7% during the 3rd quarter. Stonepine Capital Management LLC now owns 2,866,785 shares of the biopharmaceutical company’s stock worth $6,106,000 after buying an additional 1,271,236 shares during the last quarter. 52.48% of the stock is owned by institutional investors.

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Cardiome Pharma 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.

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