Stock On Watch: What’s Next for CARDIOME PHARMA CORP After Achieving 1 Year Low?

Stock On Watch: What's Next for CARDIOME PHARMA CORP After Achieving 1 Year Low?

The stock of CARDIOME PHARMA CORP (NASDAQ:CRME) hit a new 52-week low and has $2.34 target or 14.00% below today’s $2.72 share price. The 5 months bearish chart indicates high risk for the $54.31 million company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $2.34 price target is reached, the company will be worth $7.60 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 35,310 shares traded hands. CARDIOME PHARMA CORP (NASDAQ:CRME) has declined 33.50% since March 31, 2016 and is downtrending. It has underperformed by 36.02% 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. Mackie upgraded the stock to “Speculative Buy” rating in Friday, May 6 report. The firm has “Buy” rating by Zacks given on Tuesday, August 11. The rating was downgraded by Zacks on Wednesday, August 26 to “Hold”. The stock of CARDIOME PHARMA CORP (NASDAQ:CRME) earned “Buy” rating by H.C. Wainwright on Wednesday, June 1. Brean Capital maintained CARDIOME PHARMA CORP (NASDAQ:CRME) rating on Friday, March 11. Brean Capital has “Buy” rating and $10 price target. The rating was downgraded by Mackie to “Hold” on Wednesday, October 12. The stock of CARDIOME PHARMA CORP (NASDAQ:CRME) earned “Buy” rating by LB Securities on Friday, August 14.

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.
Mackenzie Fincl has invested 0% of its portfolio in CARDIOME PHARMA CORP (NASDAQ:CRME). Natl Bank Of Montreal Can has 6,752 shares for 0% of their US portfolio. Morgan Stanley last reported 25,255 shares in the company. Renaissance Technologies Lc accumulated 0% or 90,213 shares. Turner Invests Limited Partnership last reported 0.64% of its portfolio in the stock. Wells Fargo Comm Mn owns 700 shares or 0% of their US portfolio. Tower Cap Limited Liability Corp (Trc) has 0% invested in the company for 500 shares. Rock Springs Capital Mgmt Lp holds 1.20M shares or 0.45% of its portfolio. Ardsley Advisory Prtnrs reported 28,900 shares or 0.03% of all its holdings. Clarivest Asset Mngmt Ltd Com last reported 21,187 shares in the company. The New York-based Goldman Sachs Gru has invested 0% in CARDIOME PHARMA CORP (NASDAQ:CRME). Geode Cap Mgmt Lc has 12,725 shares for 0% of their US portfolio. Citadel Advsrs accumulated 16,077 shares or 0% of the stock. Westfield Cap Mgmt Lp holds 0.17% or 3.91 million shares in its portfolio. Moreover, Royal Comml Bank Of Canada has 0% invested in CARDIOME PHARMA CORP (NASDAQ:CRME) for 15,816 shares.

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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