Wall Street brokerages expect Cardiome Pharma Corp (NASDAQ:CRME) (TSE:COM) to report $8.24 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Cardiome Pharma’s earnings, with estimates ranging from $7.61 million to $8.70 million. Cardiome Pharma posted sales of $7.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 17.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, March 6th.
On average, analysts expect that Cardiome Pharma will report full year sales of $8.24 million for the current fiscal year, with estimates ranging from $24.59 million to $25.70 million. For the next financial year, analysts forecast that the company will post sales of $34.80 million per share, with estimates ranging from $32.30 million to $37.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Cardiome Pharma.
Cardiome Pharma (NASDAQ:CRME) (TSE:COM) last issued its quarterly earnings results on Tuesday, November 14th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.04). Cardiome Pharma had a negative net margin of 112.91% and a negative return on equity of 94.68%. The company had revenue of $6.02 million for the quarter, compared to analyst estimates of $7.42 million. During the same quarter in the previous year, the company posted ($0.19) EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year.
Cardiome Pharma (NASDAQ CRME) opened at $1.59 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 4.71 and a current ratio of 5.52. Cardiome Pharma has a 52 week low of $1.29 and a 52 week high of $4.84. The stock has a market cap of $54.30, a P/E ratio of -1.92 and a beta of 0.83.
Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Cardiome Pharma by 37.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 155,095 shares of the biopharmaceutical company’s stock valued at $701,000 after acquiring an additional 42,416 shares during the last quarter. AlphaOne Investment Services LLC boosted its holdings in shares of Cardiome Pharma by 14.9% in the 2nd quarter. AlphaOne Investment Services LLC now owns 632,739 shares of the biopharmaceutical company’s stock valued at $2,860,000 after acquiring an additional 82,027 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Cardiome Pharma by 8.0% in the 2nd quarter. Westfield Capital Management Co. LP now owns 5,286,340 shares of the biopharmaceutical company’s stock valued at $23,894,000 after acquiring an additional 391,392 shares during the last quarter. Finally, Stonepine Capital Management LLC boosted its holdings in shares of Cardiome Pharma by 79.7% in the 3rd quarter. Stonepine Capital Management LLC now owns 2,866,785 shares of the biopharmaceutical company’s stock valued at $6,106,000 after acquiring an additional 1,271,236 shares during the last quarter. 52.48% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This story was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://www.com-unik.info/2018/01/12/8-24-million-in-sales-expected-for-cardiome-pharma-corp-crme-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cardiome Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardiome Pharma and related companies with MarketBeat.com's FREE daily email newsletter.