Cempra Inc. (CEMP) Upgraded by Zacks Investment Research to Strong-Buy
Cempra Inc. (NASDAQ:CEMP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday. The brokerage presently has a $25.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 13.12% from the company’s current price.
According to Zacks, “Cempra Holdings, LLC is a pharmaceutical company engaged in developing antibiotics for the treatment of bacterial infectious diseases. It focuses on developing antibiotics for treating respiratory tract, skin and skin structure infections and to target the growing problem of antimicrobial resistance. Cempra Holdings, LLC is headquartered in Chapel Hill, North Carolina. “
Several other equities analysts also recently commented on CEMP. Stifel Nicolaus decreased their price objective on shares of Cempra from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, June 24th. Needham & Company LLC restated a “buy” rating and issued a $48.00 price target on shares of Cempra in a research note on Friday, June 24th. Cowen and Company restated a “buy” rating on shares of Cempra in a research note on Friday, June 24th. WBB Securities restated a “buy” rating and issued a $40.00 price target on shares of Cempra in a research note on Tuesday, July 5th. Finally, JPMorgan Chase & Co. began coverage on shares of Cempra in a research note on Tuesday, July 12th. They issued an “overweight” rating and a $31.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Cempra currently has a consensus rating of “Buy” and an average price target of $34.92.
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Shares of Cempra (NASDAQ:CEMP) traded down 3.41% during trading on Tuesday, hitting $22.10. 1,019,095 shares of the company’s stock were exchanged. Cempra has a 1-year low of $14.03 and a 1-year high of $34.24. The stock’s 50-day moving average price is $23.21 and its 200-day moving average price is $19.64. The stock’s market cap is $1.15 billion.
Cempra (NASDAQ:CEMP) last released its quarterly earnings data on Monday, August 1st. The company reported ($0.51) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.67) by $0.16. Cempra had a negative net margin of 715.34% and a negative return on equity of 63.54%. The firm had revenue of $3.42 million for the quarter, compared to the consensus estimate of $3.89 million. During the same period in the previous year, the company earned ($0.57) earnings per share. The company’s quarterly revenue was down 33.3% on a year-over-year basis. On average, equities analysts expect that Cempra will post ($2.63) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of CEMP. Harvey Capital Management Inc. boosted its position in Cempra by 5.8% in the second quarter. Harvey Capital Management Inc. now owns 109,950 shares of the company’s stock worth $1,813,000 after buying an additional 6,000 shares during the period. Fox Run Management L.L.C. bought a new position in Cempra during the second quarter worth approximately $391,000. Handelsbanken Fonder AB boosted its position in Cempra by 42.9% in the second quarter. Handelsbanken Fonder AB now owns 50,000 shares of the company’s stock worth $824,000 after buying an additional 15,000 shares during the period. Franklin Street Advisors Inc. NC boosted its position in Cempra by 4.7% in the second quarter. Franklin Street Advisors Inc. NC now owns 54,100 shares of the company’s stock worth $892,000 after buying an additional 2,450 shares during the period. Finally, Legal & General Group Plc boosted its position in Cempra by 23.0% in the first quarter. Legal & General Group Plc now owns 6,711 shares of the company’s stock worth $114,000 after buying an additional 1,256 shares during the period. 78.31% of the stock is owned by hedge funds and other institutional investors.
Cempra Company Profile
Cempra, Inc is a clinical-stage pharmaceutical company. The Company is focused on developing differentiated antibiotics for the acute care and community settings to meet medical needs in the treatment of bacterial infectious diseases, particularly respiratory tract infections and chronic staphylococcal infections.
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