Todays Report: Today, Cardiome Pharma Corp. (CRME) Earns Hold Rating from Mackie

Today, Cardiome Pharma Corp. (CRME) Earns Hold Rating from Mackie

Mackie restated their hold rating on shares of Cardiome Pharma Corp. (NASDAQ:CRME) in a research note released on Wednesday morning. Mackie currently has a $3.50 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $5.10.

Several other research firms have also recently weighed in on CRME. Brean Capital reissued a buy rating and set a $7.00 price objective (down previously from $10.00) on shares of Cardiome Pharma Corp. in a research report on Monday, August 15th. Zacks Investment Research cut Cardiome Pharma Corp. from a strong-buy rating to a hold rating in a research report on Tuesday, July 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $7.25.

Shares of Cardiome Pharma Corp. (NASDAQ:CRME) opened at 2.99 on Wednesday. The company has a 50 day moving average price of $3.05 and a 200 day moving average price of $4.13. Cardiome Pharma Corp. has a one year low of $2.80 and a one year high of $9.21. The company’s market cap is $95.31 million.

Cardiome Pharma Corp. (NASDAQ:CRME) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.19) by $0.18. Cardiome Pharma Corp. had a negative return on equity of 111.18% and a negative net margin of 96.91%. The business had revenue of $5.90 million for the quarter, compared to analyst estimates of $6.73 million. During the same period in the prior year, the firm posted ($0.43) EPS. Cardiome Pharma Corp.’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities research analysts expect that Cardiome Pharma Corp. will post ($0.75) earnings per share for the current year.

A hedge fund recently raised its stake in Cardiome Pharma Corp. stock. Renaissance Technologies LLC boosted its stake in shares of Cardiome Pharma Corp. (NASDAQ:CRME) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,313 shares of the biopharmaceutical company’s stock after buying an additional 3,100 shares during the period. Renaissance Technologies LLC owned about 0.32% of Cardiome Pharma Corp. worth $267,000 at the end of the most recent reporting period. 37.74% of the stock is currently owned by hedge funds and other institutional investors.

About Cardiome Pharma Corp.

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