Latest Bullish Moves Of Cyrus Capital Partners and Rock Springs Capital Management

CARDIOME PHARMA CORP (NASDAQ:CRME) is a $155.71 million pharmaceutical company engaged in the development of cardiovascular therapies. The stock is trading nearly sideways on a year-to-date basis, but has risen more than 40% over the past 12 months. in its financial results for the June quarter, the company missed both the top and bottom line estimates. Revenues of $5.74 million represented a slide of more than 25% from the same quarter last year and were $1.93 million lower than expected, while net loss per share of $0.43 came in $0.22 below the consensus estimate. The decrease in profitability was primarily due to the increase in research and development expenses in connection with $3 million upfront payment made to SteadyMed for the exclusive license and supply agreement for the commercialization of TREVYENT in Europe, Canada and Middle East.

Professional money managers have been slightly bearish on CARDIOME PHARMA CORP (NASDAQ:CRME). Among the hedge funds that we track, seven investors held $194.42 million worth of stock at the end of March, as compared to eight firms holding $217.87 million at the end of the previous quarter. Charles Clough‘s Clough Capital Partners is the largest shareholder with about 597,200 shares valued at $5.53 million.

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