$7.34 Million in Sales Expected for Cardiome Pharma Co. (CRME) This Quarter

Brokerages predict that Cardiome Pharma Co. (NASDAQ:CRME) (TSE:COM) will announce sales of $7.34 million for the current quarter, according to Zacks. Two analysts have made estimates for Cardiome Pharma’s earnings. The lowest sales estimate is $7.10 million and the highest is $7.59 million. Cardiome Pharma posted sales of $5.20 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 41.2%. The company is expected to issue its next quarterly earnings report on Monday, May 21st.

On average, analysts expect that Cardiome Pharma will report full year sales of $7.34 million for the current financial year, with estimates ranging from $29.70 million to $33.72 million. For the next financial year, analysts expect that the company will post sales of $41.07 million per share, with estimates ranging from $34.40 million to $44.51 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Cardiome Pharma.

Several equities analysts recently commented on CRME shares. Mackie upgraded shares of Cardiome Pharma to a “buy” rating in a report on Friday, December 15th. HC Wainwright set a $10.00 price objective on shares of Cardiome Pharma and gave the company a “buy” rating in a research report on Wednesday, March 21st. Finally, Canaccord Genuity set a $5.00 price objective on shares of Cardiome Pharma and gave the company a “buy” rating in a research report on Wednesday, March 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.67.



A number of institutional investors have recently added to or reduced their stakes in CRME. Stonepine Capital Management LLC lifted its position in shares of Cardiome Pharma by 11.5% in the 4th quarter. Stonepine Capital Management LLC now owns 3,195,692 shares of the biopharmaceutical company’s stock worth $4,953,000 after purchasing an additional 328,907 shares during the period. Tamarack Advisers LP lifted its position in shares of 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 during the period. Finally, Renaissance Technologies LLC lifted its position in shares of 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 during the period. 50.82% of the stock is owned by institutional investors.

NASDAQ:CRME traded up $0.10 during mid-day trading on Friday, hitting $2.36. 88,064 shares of the stock traded hands, compared to its average volume of 161,397. The company has a market capitalization of $79.50, a price-to-earnings ratio of -2.62 and a beta of 0.22. Cardiome Pharma has a 52 week low of $1.29 and a 52 week high of $4.84. The company has a current ratio of 4.80, a quick ratio of 3.99 and a debt-to-equity ratio of 2.47.

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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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