Cempra, Inc. (CEMP) Receives Consensus Recommendation of “Hold” from Brokerages
Cempra, Inc. (NASDAQ:CEMP) has received an average rating of “Hold” from the eighteen research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $8.75.
Several equities analysts have commented on CEMP shares. Zacks Investment Research lowered shares of Cempra from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Jefferies Group LLC reiterated a “hold” rating and issued a $3.00 price target on shares of Cempra in a research note on Thursday, September 14th. Robert W. Baird upgraded shares of Cempra from an “underperform” rating to a “neutral” rating and set a $2.00 price target on the stock in a research note on Wednesday. Roth Capital lowered shares of Cempra from a “buy” rating to a “neutral” rating and dropped their price target for the company from $8.00 to $4.00 in a research note on Thursday, August 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $4.00 price target on shares of Cempra in a research note on Thursday, August 10th.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in shares of Cempra by 23.8% during the second quarter. Bank of New York Mellon Corp now owns 255,975 shares of the biotechnology company’s stock worth $1,178,000 after purchasing an additional 49,135 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Cempra by 35.6% during the second quarter. Janney Montgomery Scott LLC now owns 25,900 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 6,800 shares during the period. Morgan Stanley lifted its holdings in shares of Cempra by 47.0% during the first quarter. Morgan Stanley now owns 376,552 shares of the biotechnology company’s stock worth $1,412,000 after purchasing an additional 120,372 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in shares of Cempra during the first quarter worth $314,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Cempra by 92.2% during the second quarter. JPMorgan Chase & Co. now owns 103,848 shares of the biotechnology company’s stock worth $478,000 after purchasing an additional 49,820 shares during the period. 49.39% of the stock is owned by hedge funds and other institutional investors.
Cempra (NASDAQ CEMP) opened at $2.33 on Friday. Cempra has a one year low of $2.05 and a one year high of $9.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 12.05 and a quick ratio of 12.04.
Cempra (NASDAQ:CEMP) last announced its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.09. The company had revenue of $0.86 million for the quarter, compared to analyst estimates of $3.58 million. Cempra had a negative net margin of 560.40% and a negative return on equity of 53.99%. The firm’s revenue was down 74.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.51) earnings per share. research analysts forecast that Cempra will post -1.01 EPS for the current year.
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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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