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

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

Cardiome Pharma Corporation (NASDAQ CRME) traded up $0.03 during mid-day trading on Tuesday, reaching $1.48. 83,000 shares of the company’s stock were exchanged, compared to its average volume of 111,595. The company has a debt-to-equity ratio of 0.99, a current ratio of 4.81 and a quick ratio of 4.12. Cardiome Pharma Corporation has a fifty-two week low of $1.29 and a fifty-two week high of $4.84.

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Several analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Cardiome Pharma Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Canaccord Genuity reaffirmed a “buy” rating and set a $8.00 price objective on shares of Cardiome Pharma Corporation in a research note on Monday, July 17th. ValuEngine raised shares of Cardiome Pharma Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, HC Wainwright set a $10.00 price objective on shares of Cardiome Pharma Corporation and gave the company a “buy” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $6.19.

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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