Cardiome Pharma Corp (NASDAQ:CRME) (TSE:COM) rose 0.6% during mid-day trading on Wednesday . The company traded as high as $2.38 and last traded at $1.80. Approximately 369,007 shares traded hands during trading, an increase of 134% from the average daily volume of 157,688 shares. The stock had previously closed at $1.79.

CRME has been the topic of a number of analyst reports. Mackie raised Cardiome Pharma to a “buy” rating in a research report on Friday, December 15th. HC Wainwright set a $10.00 price target on Cardiome Pharma and gave the stock a “buy” rating in a research report on Wednesday. Finally, Canaccord Genuity set a $5.00 price target on Cardiome Pharma and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $5.67.

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The company has a debt-to-equity ratio of 1.67, a current ratio of 5.52 and a quick ratio of 4.71. The company has a market cap of $62.00, a P/E ratio of -2.09 and a beta of 0.65.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRME. Renaissance Technologies LLC lifted 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 purchasing an additional 75,200 shares during the last quarter. Tamarack Advisers LP lifted its stake in Cardiome Pharma by 7.1% during the fourth quarter. Tamarack Advisers LP now owns 1,875,000 shares of the biopharmaceutical company’s stock worth $2,906,000 after purchasing an additional 125,000 shares during the last quarter. Finally, Stonepine Capital Management LLC lifted its stake in Cardiome Pharma by 11.5% during the fourth quarter. Stonepine Capital Management LLC now owns 3,195,692 shares of the biopharmaceutical company’s stock worth $4,953,000 after purchasing an additional 328,907 shares during the last quarter. Hedge funds and other 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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