Westfield Capital Management Co. LP reduced its stake in shares of Cardiome Pharma Corporation (NASDAQ:CRME) (TSE:COM) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,858,454 shares of the biopharmaceutical company’s stock after selling 427,886 shares during the quarter. Westfield Capital Management Co. LP owned approximately 14.37% of Cardiome Pharma worth $10,349,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. AlphaOne Investment Services LLC grew its position in shares of Cardiome Pharma by 14.9% in the 2nd quarter. AlphaOne Investment Services LLC now owns 632,739 shares of the biopharmaceutical company’s stock worth $2,860,000 after buying an additional 82,027 shares during the period. JPMorgan Chase & Co. grew its position in shares of Cardiome Pharma by 37.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 155,095 shares of the biopharmaceutical company’s stock worth $701,000 after buying an additional 42,416 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Cardiome Pharma by 17.9% in the 1st quarter. Renaissance Technologies LLC now owns 253,413 shares of the biopharmaceutical company’s stock worth $763,000 after buying an additional 38,400 shares during the period. 52.48% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on CRME. Zacks Investment Research downgraded shares of Cardiome Pharma from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. HC Wainwright set a $10.00 target price on shares of Cardiome Pharma and gave the stock a “buy” rating in a research report on Wednesday, August 9th. ValuEngine downgraded shares of Cardiome Pharma from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Finally, Canaccord Genuity set a $5.00 target price on shares of Cardiome Pharma and gave the stock a “buy” rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $5.31.
Cardiome Pharma (NASDAQ:CRME) (TSE:COM) last announced its quarterly earnings data on Tuesday, November 14th. The biopharmaceutical company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.04). Cardiome Pharma had a negative net margin of 112.91% and a negative return on equity of 94.68%. The firm had revenue of $6.02 million for the quarter, compared to analysts’ expectations of $7.42 million. During the same period last year, the company posted ($0.19) earnings per share. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. equities analysts expect that Cardiome Pharma Corporation will post -0.84 earnings per share for the current year.
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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