Cardiome Pharma Corporation (CRME) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) released its earnings results on Tuesday. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04), Briefing.com reports. Cardiome Pharma Corporation had a negative return on equity of 78.51% and a negative net margin of 110.95%. The business had revenue of $6.02 million for the quarter, compared to the consensus estimate of $7.42 million. During the same quarter last year, the business posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year.

Shares of Cardiome Pharma Corporation (NASDAQ:CRME) opened at $1.42 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 4.12 and a current ratio of 4.81. Cardiome Pharma Corporation has a 52 week low of $1.29 and a 52 week high of $4.84.

Several analysts have recently weighed in on the company. Zacks Investment Research downgraded Cardiome Pharma Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. ValuEngine lowered Cardiome Pharma Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. HC Wainwright set a $10.00 price target on Cardiome Pharma Corporation and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, Canaccord Genuity set a $8.00 price target on Cardiome Pharma Corporation and gave the company a “buy” rating in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $5.44.

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About Cardiome Pharma Corporation

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.

Earnings History for Cardiome Pharma Corporation (NASDAQ:CRME)

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