HC Wainwright Analysts Give Cardiome Pharma (CRME) a $10.00 Price Target

HC Wainwright set a $10.00 price objective on Cardiome Pharma (NASDAQ:CRME) (TSE:COM) in a research report sent to investors on Wednesday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently weighed in on CRME. Canaccord Genuity set a $5.00 target price on Cardiome Pharma and gave the company a buy rating in a research note on Wednesday, March 21st. Mackie raised Cardiome Pharma to a buy rating in a research note on Friday, December 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Cardiome Pharma presently has a consensus rating of Hold and an average target price of $5.67.

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Shares of CRME stock opened at $2.32 on Wednesday. Cardiome Pharma has a fifty-two week low of $1.29 and a fifty-two week high of $4.84. The stock has a market cap of $81.59, a P/E ratio of -2.58 and a beta of 0.22. The company has a quick ratio of 4.71, a current ratio of 5.52 and a debt-to-equity ratio of 1.67.

Several large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in shares of Cardiome Pharma by 18.3% in the 4th quarter. Renaissance Technologies LLC now owns 486,613 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 75,200 shares during the period. Tamarack Advisers LP boosted its position in shares of Cardiome Pharma by 7.1% in the 4th quarter. Tamarack Advisers LP now owns 1,875,000 shares of the biopharmaceutical company’s stock valued at $2,906,000 after purchasing an additional 125,000 shares during the period. Finally, Stonepine Capital Management LLC boosted its position in shares of Cardiome Pharma by 11.5% in the 4th quarter. Stonepine Capital Management LLC now owns 3,195,692 shares of the biopharmaceutical company’s stock valued at $4,953,000 after purchasing an additional 328,907 shares during the period. Institutional investors and hedge funds own 50.82% of the company’s stock.

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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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