Equities analysts predict that Cardiome Pharma Corp (NASDAQ:CRME) (TSE:COM) will report $7.94 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Cardiome Pharma’s earnings. The highest sales estimate is $8.40 million and the lowest is $7.61 million. Cardiome Pharma reported sales of $7.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 13.4%. The business is scheduled to report its next quarterly earnings report on Tuesday, March 6th.
On average, analysts expect that Cardiome Pharma will report full year sales of $7.94 million for the current fiscal year, with estimates ranging from $24.59 million to $25.40 million. For the next fiscal year, analysts anticipate that the firm will post sales of $33.37 million per share, with estimates ranging from $30.50 million to $37.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Cardiome Pharma.
A number of analysts recently commented on the company. Zacks Investment Research cut Cardiome Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Canaccord Genuity set a $5.00 price target on Cardiome Pharma and gave the company a “buy” rating in a report on Wednesday, November 15th. Mackie raised Cardiome Pharma to a “buy” rating in a report on Friday, December 15th. Finally, HC Wainwright reissued a “buy” rating and set a $9.50 price target on shares of Cardiome Pharma in a report on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $5.50.
A number of large investors have recently added to or reduced their stakes in the business. Tamarack Advisers LP grew its holdings 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 valued at $2,906,000 after purchasing an additional 125,000 shares during the period. Renaissance Technologies LLC grew its holdings in Cardiome Pharma by 18.3% during the fourth quarter. Renaissance Technologies LLC now owns 486,613 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 75,200 shares during the period. Finally, Stonepine Capital Management LLC grew its holdings 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 valued at $4,953,000 after purchasing an additional 328,907 shares during the period. 50.76% of the stock is owned by institutional investors and hedge funds.
Cardiome Pharma (NASDAQ:CRME) traded up $0.27 during trading on Friday, reaching $1.73. The company had a trading volume of 245,408 shares, compared to its average volume of 63,160. The stock has a market capitalization of $52.64, a PE ratio of -2.06 and a beta of 0.65. 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 12 month low of $1.29 and a 12 month high of $4.84.
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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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