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

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

by dailypolitical

December 27, 2017

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. Westfiel...

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