Cormark Weighs in on Cardiome Pharma Corporation’s Q3 2017 Earnings (CRME)

Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) – Cormark reduced their Q3 2017 EPS estimates for shares of Cardiome Pharma Corporation in a note issued to investors on Wednesday. Cormark analyst D. Novak now expects that the biopharmaceutical company will earn ($0.12) per share for the quarter, down from their prior estimate of ($0.11). Cormark also issued estimates for Cardiome Pharma Corporation’s Q4 2017 earnings at ($0.15) EPS and FY2017 earnings at ($0.73) EPS.

A number of other brokerages also recently commented on CRME. Zacks Investment Research raised Cardiome Pharma Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. HC Wainwright set a $10.00 price target on Cardiome Pharma Corporation and gave the company a “buy” rating in a report on Wednesday. ValuEngine raised Cardiome Pharma Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $8.00 price target on shares of Cardiome Pharma Corporation in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $6.08.

TRADEMARK VIOLATION NOTICE: This article was posted by Community Financial News and is the property of of Community Financial News. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://www.com-unik.info/2017/08/12/cormark-weighs-in-on-cardiome-pharma-corporations-q3-2017-earnings-crme.html.

Shares of Cardiome Pharma Corporation (NASDAQ CRME) opened at 3.92 on Friday. Cardiome Pharma Corporation has a 52-week low of $2.35 and a 52-week high of $4.84. The firm has a 50-day moving average price of $4.37 and a 200-day moving average price of $3.57. The firm’s market cap is $127.17 million.

Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by $0.08. The company had revenue of $5.75 million during the quarter, compared to analyst estimates of $6.88 million. Cardiome Pharma Corporation had a negative net margin of 110.95% and a negative return on equity of 78.51%. Cardiome Pharma Corporation’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.37) EPS.

A number of hedge funds have recently made changes to their positions in CRME. Knott David M purchased a new stake in shares of Cardiome Pharma Corporation during the first quarter valued at about $230,000. JPMorgan Chase & Co. boosted its stake in shares of Cardiome Pharma Corporation by 105.3% in the first quarter. JPMorgan Chase & Co. now owns 112,679 shares of the biopharmaceutical company’s stock valued at $339,000 after buying an additional 57,782 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Cardiome Pharma Corporation by 32.2% in the fourth quarter. Renaissance Technologies LLC now owns 215,013 shares of the biopharmaceutical company’s stock valued at $593,000 after buying an additional 52,400 shares during the last quarter. AlphaOne Investment Services LLC boosted its stake in shares of Cardiome Pharma Corporation by 14.9% in the second quarter. AlphaOne Investment Services LLC now owns 632,739 shares of the biopharmaceutical company’s stock valued at $2,860,000 after buying an additional 82,027 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Cardiome Pharma Corporation by 8.0% in the second quarter. Westfield Capital Management Co. LP now owns 5,286,340 shares of the biopharmaceutical company’s stock valued at $23,894,000 after buying an additional 391,392 shares during the last quarter. Hedge funds and other institutional investors own 58.36% of the company’s stock.

Cardiome Pharma Corporation 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.

What are top analysts saying about Cardiome Pharma Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Cardiome Pharma Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit