Zacks: Analysts Anticipate Cardiome Pharma Corp (CRME) to Announce -$0.19 EPS

Wall Street brokerages forecast that Cardiome Pharma Corp (NASDAQ:CRME) (TSE:COM) will announce ($0.19) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Cardiome Pharma’s earnings, with the highest EPS estimate coming in at ($0.17) and the lowest estimate coming in at ($0.22). Cardiome Pharma reported earnings of ($0.18) per share during the same quarter last year, which suggests a negative year over year growth rate of 5.6%. The firm is expected to report its next quarterly earnings results on Tuesday, March 6th.

According to Zacks, analysts expect that Cardiome Pharma will report full-year earnings of ($0.84) per share for the current fiscal year, with EPS estimates ranging from ($0.88) to ($0.81). For the next financial year, analysts forecast that the business will post earnings of ($0.72) per share, with EPS estimates ranging from ($0.89) to ($0.59). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Cardiome Pharma.

Cardiome Pharma (NASDAQ:CRME) (TSE:COM) last announced its quarterly earnings results on Tuesday, November 14th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Cardiome Pharma had a negative return on equity of 94.68% and a negative net margin of 112.91%. The business had revenue of $6.02 million during the quarter, compared to the consensus estimate of $7.42 million. During the same quarter last year, the company earned ($0.19) earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year.

Several research analysts have recently weighed in on the company. HC Wainwright reaffirmed a "buy" rating and set a $9.50 price objective on shares of Cardiome Pharma in a research report on Wednesday, November 22nd. Zacks Investment Research raised Cardiome Pharma from a "hold" rating to a "buy" rating and set a $2.00 price target for the company in a research report on Wednesday, November 1st. Mackie raised Cardiome Pharma to a "buy" rating in a research report on Friday, December 15th. Canaccord Genuity set a $5.00 price target on Cardiome Pharma and gave the company a "buy" rating in a research report on Wednesday, November 15th. Finally, ValuEngine cut Cardiome Pharma from a "sell" rating to a "strong sell" rating in a research report on Friday, September 1st. One investment 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. Cardiome Pharma has an average rating of "Hold" and a consensus price target of $5.50.

Cardiome Pharma (CRME) opened at $1.58 on Monday. The company has a current ratio of 5.52, a quick ratio of 4.71 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $59.75, a PE ratio of -1.90 and a beta of 0.80. Cardiome Pharma has a 52-week low of $1.29 and a 52-week high of $4.84.

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in Cardiome Pharma by 37.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 155,095 shares of the biopharmaceutical company’s stock worth $701,000 after acquiring an additional 42,416 shares during the period. Renaissance Technologies LLC boosted its holdings 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 valued at $763,000 after purchasing an additional 38,400 shares in the last quarter. AlphaOne Investment Services LLC boosted its holdings 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 valued at $2,860,000 after purchasing an additional 82,027 shares in the last quarter. Stonepine Capital Management LLC boosted its holdings in shares of Cardiome Pharma by 79.7% in the 3rd quarter. Stonepine Capital Management LLC now owns 2,866,785 shares of the biopharmaceutical company’s stock valued at $6,106,000 after purchasing an additional 1,271,236 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Cardiome Pharma by 8.0% in the 2nd quarter. Westfield Capital Management Co. LP now owns 5,286,340 shares of the biopharmaceutical company’s stock valued at $23,894,000 after purchasing an additional 391,392 shares in the last quarter. Hedge funds and other institutional investors own 52.48% of the company’s stock.

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.