Wall Street brokerages expect that Cardiome Pharma Co. (NASDAQ:CRME) (TSE:COM) will announce earnings per share of ($0.22) for the current quarter, Zacks reports. Two analysts have issued estimates for Cardiome Pharma’s earnings, with the highest EPS estimate coming in at ($0.21) and the lowest estimate coming in at ($0.23). Cardiome Pharma posted earnings per share of ($0.20) during the same quarter last year, which indicates a negative year-over-year growth rate of 10%. The company is expected to announce its next quarterly earnings report after the market closes on Tuesday, May 15th.
According to Zacks, analysts expect that Cardiome Pharma will report full-year earnings of ($0.79) per share for the current year, with EPS estimates ranging from ($0.95) to ($0.66). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.53) per share, with EPS estimates ranging from ($0.59) to ($0.48). Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Cardiome Pharma.
Cardiome Pharma (NASDAQ:CRME) (TSE:COM) last issued its earnings results on Tuesday, March 13th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.05). The firm had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $7.94 million. Cardiome Pharma had a negative net margin of 124.17% and a negative return on equity of 123.36%.
A number of brokerages recently commented on CRME. Canaccord Genuity set a $5.00 target price on Cardiome Pharma and gave the company a “buy” rating in a research report on Wednesday, March 21st. HC Wainwright set a $10.00 target price on Cardiome Pharma and gave the company a “buy” rating in a research report on Wednesday, April 4th. Finally, ValuEngine upgraded Cardiome Pharma from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.67.
A number of hedge funds and other institutional investors have recently modified their holdings of CRME. Stonepine Capital Management LLC boosted its position in Cardiome Pharma by 11.5% in 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 buying an additional 328,907 shares during the last quarter. Renaissance Technologies LLC boosted its position in Cardiome Pharma by 18.3% in the 4th quarter. Renaissance Technologies LLC now owns 486,613 shares of the biopharmaceutical company’s stock worth $754,000 after purchasing an additional 75,200 shares in the last quarter. Finally, Tamarack Advisers LP boosted its position in Cardiome Pharma by 7.1% in the 4th quarter. Tamarack Advisers LP now owns 1,875,000 shares of the biopharmaceutical company’s stock worth $2,906,000 after purchasing an additional 125,000 shares in the last quarter. Hedge funds and other institutional investors own 50.49% of the company’s stock.
Shares of Cardiome Pharma opened at $2.27 on Wednesday, according to Marketbeat. The company has a market capitalization of $79.15 million, a P/E ratio of -2.52 and a beta of 0.19. Cardiome Pharma has a 52 week low of $1.29 and a 52 week high of $4.84. The company has a debt-to-equity ratio of 2.47, a quick ratio of 3.99 and a current ratio of 4.80.
Cardiome Pharma Company Profile
Cardiome Pharma Corp., a specialty pharmaceutical company, engages in the development and commercialization of therapies for the treatment of patients suffering from heart diseases. It offers BRINAVESS (vernakalant (IV)) for the conversion of recent onset atrial fibrillation to sinus rhythm in adults; and AGGRASTAT, a reversible GP IIb/IIIa inhibitor for use in acute coronary syndrome patients.
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