Cempra Holdings (CEMP) Releases Quarterly Earnings Results
Cempra Holdings (NASDAQ:CEMP) issued its quarterly earnings data on Tuesday. The company reported ($0.51) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.48) by $0.03, American Banking News reports. The company had revenue of $3.10 million for the quarter, compared to the consensus estimate of $2.10 million.
Shares of Cempra Holdings (NASDAQ:CEMP) traded up 0.64% on Tuesday, hitting $9.37. The stock had a trading volume of 324,180 shares. Cempra Holdings has a 52-week low of $6.01 and a 52-week high of $15.39. The stock’s 50-day moving average is $10.62 and its 200-day moving average is $11.96. The company’s market cap is $311.0 million.
On a related note, analysts at Barclays initiated coverage on shares of Cempra Holdings in a research note on Tuesday, April 8th. They set an “equal weight” rating and a $13.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.63.
Cempra, Inc, formerly Cempra Holdings, LLC, is a development-stage and clinical-stage pharmaceutical company focused on developing antibiotics to meet medical needs in the treatment of bacterial infectious diseases, particularly respiratory tract infections and chronic and acute staphylococcal infections.
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