Cardiome Pharma Corporation – O (CRME) Reached a 52-Week Low


In the market the company is trading down since yesterday’s close of 1.79. It is trading at $1.66 impressively lower than $2.13, the 50 day moving average and much lower than the 200 day moving average of $3.35. The 50 day moving average was down $-0.47 and the 200 day average went down $-1.69 or -50.47%.

Traders are feeling more bullish on shares of Cardiome Pharma Corporation – O recently as evidenced by the decrease in short interest. The company saw a fall in short interest of -34.35% between September 15, 2017 and September 29, 2017. Short shares decreased 66,657 over that period. With short interest at 127,396 and short average daily volume at 63,833, the short-interest ratio is 2.0 and the percentage of shorted shares was 0.00% on September 29.

Cardiome Pharma Corp. (Cardiome), launched on March 1, 2009, is a specialty pharmaceutical company. The Company is involved in the development and commercialization of cardiovascular therapies for heart disease. The Business’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. Cardiome also commercializes ESMOCARD and ESMOCARD LYO (esmolol hydrochloride), a short-acting beta-blocker used to control heart rate in various cardiovascular indications, in select European markets. Cardiome has also licensed TREVYENT, a development-stage drug device combination product that is under development for pulmonary arterial hypertension, in certain regions outside the United States..

These funds have shifted positions in (CRME). Renaissance Technologies LLC augmented its ownership by buying 97,300 shares an increase of 38.4% in the quarter. Renaissance Technologies LLC currently owns 350,713 shares with a value of $1,585,000. The total value of its holdings increased 107.7%. As of the end of the quarter Alphaone Investment Services, LLC had bought 82,027 shares growing its holdings by 14.9%. The value of the investment in Cardiome Pharma Corporation – O increased from $1,653,000 to $2,860,000 a change of 73.0% for the reporting period.

As of quarter end Westfield Capital Management Co Lp had acquired a total of 391,392 shares growing its stake by 8.0%. The value of the investment in CRME went from $14,734,000 to $23,894,000 increasing 62.2% quarter to quarter. As of quarter end Susquehanna International Group, Llp had sold a total of 7,579 shares trimming its position 35.5%. The value of the investment in (CRME) went from $64,000 to $62,000 a change of $2,000 quarter over quarter.

Canaccord Genuity released its first research report on the stock by announcing an initial rating of “Buy” and establishing a price target of $8.00.

As of the last earnings report the EPS was $-0.82 and is estimated to be $-0.69 for the current year with 33,801,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $-0.16 and the next full year EPS is anticipated to be $-0.42.