Analysts cut Cardiome price target

Versant Partners and Dundee Securities have lowered their price targets on Cardiome Pharma (TSX:COM; NASDAQ:CRME) after it and partner Astellas Pharma halted a 470-patient Phase 3 trial testing an IV formulation of vernakalant or Kynapid for rapid-onset atrial fibrillation. Versant Partners analyst Doug Loe writes that the decision was “clearly disappointing because halting (the trial) [...]

Cardiome drug clears European committee

The Committee for Medicinal Products for Human Use of the European Medicines Agency has recommended marketing approval for Cardiome Pharma’s (TSX:COM; NASDAQ:CRME) vernakalant, an investigational intravenous formulation for the conversion of atrial fibrillation to normal heart rhythm in adults. Granting of marketing authorization by the European Commission is expected later this year and will apply [...]

Cormark ups Cardiome price target

Cormark Securities has raised its price target on “buy-rated” Cardiome Pharma (TSX:COM; NASDAQ:CRME) to $10.50 from $7.50, citing a positive outlook from several catalysts expected this year.  The stock closed at $8.28 on Tuesday. According to analyst David Dean, those catalysts included European approval in mid-2010 of the IV version of Cardiome’s vernakalant drug to [...]