Stock Buzzer: CARDIOME PHARMA CORP Stock Price Hits 1 Year Low Today

Stock Buzzer: CARDIOME PHARMA CORP Stock Price Hits 1 Year Low Today

The stock of CARDIOME PHARMA CORP (NASDAQ:CRME) hit a new 52-week low and has $2.47 target or 11.00% below today’s $2.78 share price. The 8 months bearish chart indicates high risk for the $56.16 million company. The 1-year low was reported on Oct, 28 by Barchart.com. If the $2.47 price target is reached, the company will be worth $6.18 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 30,696 shares traded hands. CARDIOME PHARMA CORP (NASDAQ:CRME) has declined 31.99% since March 28, 2016 and is downtrending. It has underperformed by 36.70% the S&P500.

Analysts await CARDIOME PHARMA CORP (NASDAQ:CRME) to report earnings on November, 11. They expect $-0.21 earnings per share, up 32.26% or $0.10 from last year’s $-0.31 per share. After $-0.37 actual earnings per share reported by CARDIOME PHARMA CORP for the previous quarter, Wall Street now forecasts -43.24% EPS growth.

CARDIOME PHARMA CORP (NASDAQ:CRME) Ratings Coverage

Out of 4 analysts covering Cardiome Pharma Corp (NASDAQ:CRME), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Cardiome Pharma Corp has been the topic of 7 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The rating was upgraded by Mackie to “Speculative Buy” on Friday, May 6. H.C. Wainwright initiated the shares of CRME in a report on Wednesday, June 1 with “Buy” rating. LB Securities reinitiated CARDIOME PHARMA CORP (NASDAQ:CRME) on Friday, August 14 with “Buy” rating. As per Tuesday, August 11, the company rating was downgraded by Zacks. The stock of CARDIOME PHARMA CORP (NASDAQ:CRME) earned “Buy” rating by Brean Capital on Friday, March 11. The rating was downgraded by Zacks to “Hold” on Wednesday, August 26. The company was downgraded on Wednesday, October 12 by Mackie.

According to Zacks Investment Research, “Cardiome Pharma Corp. is a product-focused cardiovascular drug development company with two clinical drug programs focused on atrial arrhythmia (intravenous and oral dosing), and a pre-clinical program directed at improving cardiovascular function.”

Insitutional Activity: The institutional sentiment increased to 1.56 in Q2 2016. Its up 0.93, from 0.63 in 2016Q1. The ratio improved, as 4 funds sold all CARDIOME PHARMA CORP shares owned while 5 reduced positions. 6 funds bought stakes while 8 increased positions. They now own 12.02 million shares or 5.19% less from 12.67 million shares in 2016Q1.
The New York-based Goldman Sachs Group Inc has invested 0% in CARDIOME PHARMA CORP (NASDAQ:CRME). Financial Bank Of Montreal Can accumulated 6,752 shares or 0% of the stock. Grp One Trading L P owns 683 shares or 0% of their US portfolio. Westfield Capital Company Lp last reported 3.91 million shares in the company. Walleye Trading Ltd Llc holds 0% or 5,100 shares in its portfolio. The New York-based Renaissance Tech Ltd Liability Co has invested 0% in CARDIOME PHARMA CORP (NASDAQ:CRME). Art Limited Liability holds 13,672 shares or 0% of its portfolio. Alphaone Inv Limited Liability Company reported 580,365 shares or 1.1% of all its holdings. The Massachusetts-based Putnam Limited Co has invested 0.04% in CARDIOME PHARMA CORP (NASDAQ:CRME). Bancorp Of America De accumulated 0% or 45 shares. Clarivest Asset Ltd Liability Corp last reported 21,187 shares in the company. Geode Mgmt Llc, a Massachusetts-based fund reported 12,725 shares. Ardsley Advisory last reported 28,900 shares in the company. Fmr Ltd Liability Corporation holds 0% of its portfolio in CARDIOME PHARMA CORP (NASDAQ:CRME) for 627,363 shares. Pnc Financial Grp Inc owns 35,580 shares or 0% of their US portfolio.

More news for CARDIOME PHARMA CORP (NASDAQ:CRME) were recently published by: Marketwatch.com, which released: “Cardiome Pharma Corp.” on December 21, 2009. Quotes.Wsj.com‘s article titled: “News Cardiome Pharma Corp.CRME” and published on February 12, 2011 is yet another important article.

CRME Company Profile

Cardiome Pharma Corp. (Cardiome), incorporated on March 1, 2009, is a specialty pharmaceutical company. The Firm is engaged in the development and commercialization of cardiovascular therapies for heart disease. The Company’s divisions 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. Cardiome also commercializes ESMOCARD and ESMOCARD LYO (esmolol hydrochloride), a short-acting beta-blocker used to control heart rate in various cardiovascular indications, in select European markets. Cardiome has also licensed TREVYENT, a development-stage drug device combination product that is under development for pulmonary arterial hypertension, in certain regions outside the United States.

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