Cardiome Pharma Corp (CRME) Expected to Post Earnings of -$0.19 Per Share

Equities research analysts forecast that Cardiome Pharma Corp (NASDAQ:CRME) (TSE:COM) will report earnings of ($0.19) per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Cardiome Pharma’s earnings, with estimates ranging from ($0.22) to ($0.17). Cardiome Pharma reported earnings of ($0.18) per share in the same quarter last year, which suggests a negative year over year growth rate of 5.6%. The business is scheduled to announce its next earnings results on Tuesday, March 6th.

According to Zacks, analysts expect that Cardiome Pharma will report full year earnings of ($0.84) per share for the current fiscal year, with EPS estimates ranging from ($0.88) to ($0.81). For the next financial year, analysts forecast that the business will report earnings of ($0.72) per share, with EPS estimates ranging from ($0.89) to ($0.59). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Cardiome Pharma.

Cardiome Pharma (NASDAQ:CRME) (TSE:COM) last issued its earnings results on Tuesday, November 14th. The biopharmaceutical company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.04). The business 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 business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the business earned ($0.19) EPS.

Several brokerages have recently commented on CRME. HC Wainwright reaffirmed a “buy” rating and issued a $9.50 target price on shares of Cardiome Pharma in a research report on Wednesday, November 22nd. Mackie raised Cardiome Pharma to a “buy” rating in a research report on Friday, December 15th. Zacks Investment Research raised Cardiome Pharma from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Canaccord Genuity set a $5.00 target price on Cardiome Pharma and gave the stock a “buy” rating in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $5.50.

Institutional investors have recently modified their holdings of the company. AlphaOne Investment Services LLC boosted its position in shares of Cardiome Pharma by 14.9% in the second 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 period. Westfield Capital Management Co. LP raised its holdings in shares of Cardiome Pharma by 8.0% during the second quarter. Westfield Capital Management Co. LP now owns 5,286,340 shares of the biopharmaceutical company’s stock worth $23,894,000 after acquiring an additional 391,392 shares in the last quarter. Stonepine Capital Management LLC raised its holdings in shares of Cardiome Pharma by 79.7% during the third quarter. Stonepine Capital Management LLC now owns 2,866,785 shares of the biopharmaceutical company’s stock worth $6,106,000 after acquiring an additional 1,271,236 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Cardiome Pharma by 37.6% during the second quarter. JPMorgan Chase & Co. now owns 155,095 shares of the biopharmaceutical company’s stock worth $701,000 after acquiring an additional 42,416 shares in the last quarter. 52.48% of the stock is owned by institutional investors and hedge funds.

Shares of Cardiome Pharma (CRME) traded up $0.01 during trading on Wednesday, hitting $1.59. The stock had a trading volume of 69,273 shares, compared to its average volume of 92,098. The firm has a market capitalization of $54.93, a PE ratio of -1.92 and a beta of 0.83. The company has a current ratio of 5.52, a quick ratio of 4.71 and a debt-to-equity ratio of 1.67. Cardiome Pharma has a 1-year low of $1.29 and a 1-year high of $4.84.

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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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