Analysts Anticipate Cempra, Inc. (NASDAQ:CEMP) Will Announce Quarterly Sales of $3.43 Million
Equities analysts expect Cempra, Inc. (NASDAQ:CEMP) to report sales of $3.43 million for the current quarter, according to Zacks. Seven analysts have made estimates for Cempra’s earnings, with the highest sales estimate coming in at $4.52 million and the lowest estimate coming in at $2.00 million. Cempra reported sales of $3.42 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.3%. The firm is expected to issue its next earnings report before the market opens on Wednesday, August 9th.
According to Zacks, analysts expect that Cempra will report full year sales of $3.43 million for the current fiscal year, with estimates ranging from $10.00 million to $18.51 million. For the next year, analysts expect that the firm will post sales of $9.94 million per share, with estimates ranging from $5.00 million to $21.50 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Cempra.
Cempra (NASDAQ:CEMP) last issued its earnings results on Friday, April 28th. The biotechnology company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.16. Cempra had a negative return on equity of 56.60% and a negative net margin of 551.45%. The business had revenue of $4.87 million during the quarter, compared to analyst estimates of $3.55 million. During the same period in the previous year, the company posted ($0.61) EPS.
Several equities research analysts recently weighed in on the stock. ValuEngine downgraded shares of Cempra from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Jefferies Group LLC reissued a “hold” rating and set a $3.00 price target on shares of Cempra in a research report on Thursday, May 25th. Zacks Investment Research downgraded shares of Cempra from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Gabelli downgraded shares of Cempra from a “hold” rating to a “sell” rating in a research report on Wednesday, March 29th. Finally, Vetr raised shares of Cempra from a “buy” rating to a “strong-buy” rating and set a $4.86 price target for the company in a research report on Monday, May 1st. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $11.34.
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Shares of Cempra (CEMP) traded down 1.744% during mid-day trading on Thursday, reaching $4.225. The company had a trading volume of 15,187 shares. Cempra has a 12-month low of $2.55 and a 12-month high of $26.95. The company’s market capitalization is $221.83 million. The firm has a 50-day moving average of $4.25 and a 200-day moving average of $3.80.
Several hedge funds and other institutional investors have recently modified their holdings of CEMP. State Street Corp boosted its position in shares of Cempra by 85.8% in the fourth quarter. State Street Corp now owns 2,133,275 shares of the biotechnology company’s stock valued at $5,973,000 after buying an additional 985,427 shares in the last quarter. Pennsylvania Trust Co acquired a new position in shares of Cempra during the second quarter valued at $7,784,000. Renaissance Technologies LLC boosted its position in shares of Cempra by 175.0% in the first quarter. Renaissance Technologies LLC now owns 1,680,500 shares of the biotechnology company’s stock valued at $6,302,000 after buying an additional 1,069,300 shares in the last quarter. Bogle Investment Management L P DE boosted its position in shares of Cempra by 607.0% in the first quarter. Bogle Investment Management L P DE now owns 709,518 shares of the biotechnology company’s stock valued at $2,660,000 after buying an additional 609,168 shares in the last quarter. Finally, South Dakota Investment Council boosted its position in shares of Cempra by 19.6% in the first quarter. South Dakota Investment Council now owns 706,207 shares of the biotechnology company’s stock valued at $2,648,000 after buying an additional 115,707 shares in the last quarter. Institutional investors and hedge funds own 52.48% of the company’s stock.
Cempra, Inc is a clinical-stage pharmaceutical company. The Company focuses on developing differentiated antibiotics for the acute care and community settings to meet medical needs in the treatment of bacterial infectious diseases. Its product, solithromycin (CEM-101), which is a macrolide and fluoroketolide, is being developed in oral capsules, intravenous (IV) and suspension formulations for the treatment of community-acquired bacterial pneumonia (CABP).
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