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Fly News Breaks for August 2, 2016
CRME
Aug 2, 2016 | 07:49 EDT
Canaccord lowered its price target on Cardiome to $9 from $13.75 following its secondary offering of shares at a "big discount" to the previous closing of the stock. The firm believes the discount has presented a buying opportunity, as the recent licensing deal for Xydalba accelerates the company's transformation into a European hospital-focused specialty pharmaceuticals company. Canaccord reiterated its Speculative Buy rating on Cardiome shares.
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