$2.89 Million in Sales Expected for Cempra, Inc. (CEMP) This Quarter
Analysts expect Cempra, Inc. (NASDAQ:CEMP) to report $2.89 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Cempra’s earnings, with the lowest sales estimate coming in at $880,000.00 and the highest estimate coming in at $4.55 million. Cempra posted sales of $3.97 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 27.2%. The business is scheduled to announce its next earnings report on Thursday, October 26th.
On average, analysts expect that Cempra will report full-year sales of $2.89 million for the current year, with estimates ranging from $7.50 million to $15.33 million. For the next fiscal year, analysts anticipate that the company will post sales of $15.35 million per share, with estimates ranging from $5.00 million to $25.49 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Cempra.
Cempra (NASDAQ:CEMP) last issued its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.09. Cempra had a negative return on equity of 53.99% and a negative net margin of 560.40%. The firm had revenue of $0.86 million during the quarter, compared to analyst estimates of $3.58 million. During the same quarter last year, the firm earned ($0.51) EPS. Cempra’s quarterly revenue was down 74.9% on a year-over-year basis.
Several equities analysts recently issued reports on the company. Jefferies Group LLC restated a “neutral” rating on shares of Cempra in a research note on Thursday. Zacks Investment Research upgraded Cempra from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Roth Capital lowered Cempra from a “buy” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $4.00 in a research note on Thursday, August 10th. Finally, Stifel Nicolaus restated a “hold” rating and set a $4.00 price target on shares of Cempra in a research note on Thursday, August 10th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Cempra presently has a consensus rating of “Hold” and a consensus target price of $10.00.
Shares of Cempra (CEMP) opened at 2.125 on Friday. Cempra has a 52 week low of $2.05 and a 52 week high of $23.89. The firm’s market cap is $111.58 million. The firm’s 50-day moving average price is $3.08 and its 200-day moving average price is $3.65.
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Hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its stake in shares of Cempra by 34.1% in the 2nd quarter. Voya Investment Management LLC now owns 23,006 shares of the biotechnology company’s stock valued at $106,000 after purchasing an additional 5,848 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Cempra by 35.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 25,900 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 6,800 shares during the period. LMR Partners LLP bought a new stake in shares of Cempra in the 2nd quarter valued at approximately $149,000. Ameriprise Financial Inc. bought a new stake in shares of Cempra in the 2nd quarter valued at approximately $164,000. Finally, State of Wisconsin Investment Board bought a new stake in shares of Cempra in the 2nd quarter valued at approximately $166,000. Institutional investors own 49.37% 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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