The stock of CARDIOME PHARMA CORP (NASDAQ:CRME) hit a new 52-week low and has $2.34 target or 12.00% below today’s $2.66 share price. The 8 months bearish chart indicates high risk for the $55.87 million company. The 1-year low was reported on Nov, 7 by Barchart.com. If the $2.34 price target is reached, the company will be worth $6.70 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 55,551 shares traded hands. CARDIOME PHARMA CORP (NASDAQ:CRME) has declined 41.38% since April 5, 2016 and is downtrending. It has underperformed by 43.34% 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. On Friday, March 11 the stock rating was maintained by Brean Capital with “Buy”. Zacks downgraded CARDIOME PHARMA CORP (NASDAQ:CRME) on Tuesday, August 11 to “Buy” rating. The firm has “Hold” rating given on Wednesday, October 12 by Mackie. The stock has “Buy” rating given by LB Securities on Friday, August 14. The company was upgraded on Friday, May 6 by Mackie. The firm has “Hold” rating by Zacks given on Wednesday, August 26. The company was initiated on Wednesday, June 1 by H.C. Wainwright.
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 2016 Q2. Its up 0.93, from 0.63 in 2016Q1. The ratio is positive, 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.
Tower Rech Ltd (Trc) holds 0% of its portfolio in CARDIOME PHARMA CORP (NASDAQ:CRME) for 500 shares. Morgan Stanley has invested 0% of its portfolio in CARDIOME PHARMA CORP (NASDAQ:CRME). Jpmorgan Chase &, a New York-based fund reported 2 shares. Moreover, Group Incorporated One Trading Limited Partnership has 0% invested in CARDIOME PHARMA CORP (NASDAQ:CRME) for 683 shares. Ardsley Advisory Prtnrs has 28,900 shares for 0.03% of their US portfolio. Geode Cap Management Limited Liability Corporation reported 12,725 shares or 0% of all its holdings. Rock Springs Mngmt Ltd Partnership has 0.45% invested in the company for 1.20 million shares. Moreover, Clough Ltd Partnership has 0.56% invested in CARDIOME PHARMA CORP (NASDAQ:CRME) for 2.06M shares. Royal Comml Bank Of Canada last reported 15,816 shares in the company. Goldman Sachs Group has 11,194 shares for 0% of their US portfolio. Deutsche National Bank & Trust Ag holds 0% or 400 shares in its portfolio. Putnam Investments Ltd Liability accumulated 0.04% or 2.88M shares. Comml Bank Of Montreal Can accumulated 6,752 shares or 0% of the stock. Moreover, Art Advsr Ltd has 0% invested in CARDIOME PHARMA CORP (NASDAQ:CRME) for 13,672 shares. The Pennsylvania-based Pnc Fincl Grp Incorporated has invested 0% in CARDIOME PHARMA CORP (NASDAQ:CRME).
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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