Hot Stock: Cardiome Pharma, Shares Gain 5.5% (CRME)

Jan 31, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Cardiome Pharma (NASDAQ:CRME) is one of today's best performing penny stocks, up 5.5% to $0.46 on 2.0x average daily volume. Cardiome Pharma has traded 1.1 million shares thus far today, vs. average volume of 530,000 shares per day. The stock has outperformed the Dow (5.0% to the Dow's -0.0%) and outperformed the S&P 500 (5.0% to the S&P's -0.1%) during today's trading.

Cardiome Pharma Corp. is a product-focused cardiovascular drug development company with clinical drug programs. The Company's programs focus on atrial arrhythmia and congestive heart failure.

In the past 52 weeks, shares of Cardiome Pharma have traded between a low of $0.24 and a high of $2.69 and are now at $0.46, which is 93% above that low price. The 200-day and 50-day moving averages have moved 0.66% lower and 2.20% higher over the past week, respectively.

Cardiome Pharma (NASDAQ:CRME) has potential upside of 41.5% based on a current price of $0.46 and analysts' consensus price target of $0.65. The stock should discover initial support at its 200-day moving average (MA) of $0.38 and subsequent support at its 50-day MA of $0.37.

SmarTrend recommended that subscribers consider buying shares of Cardiome Pharma on December 12th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $0.41. Since that recommendation, shares of Cardiome Pharma have risen 8.6%. We continue to monitor CRME for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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