Cempra, Inc. (NASDAQ:CEMP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, October 17th.
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. “
CEMP has been the subject of several other reports. Stifel Nicolaus reissued a “hold” rating and set a $4.00 price target on shares of Cempra in a report on Thursday, August 10th. Roth Capital cut shares of Cempra from a “buy” rating to a “neutral” rating and cut their price target for the stock from $8.00 to $4.00 in a report on Thursday, August 10th. Finally, Jefferies Group LLC restated a “hold” rating and set a $3.00 target price on shares of Cempra in a research report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, two have assigned 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 price target of $8.39.
Shares of Cempra (CEMP) traded up $0.03 during trading hours on Tuesday, hitting $2.33. 510,900 shares of the stock were exchanged, compared to its average volume of 743,362. Cempra has a 1-year low of $2.05 and a 1-year high of $9.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.49 and a quick ratio of 11.49.
Cempra (NASDAQ:CEMP) last posted its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.09. The firm had revenue of $0.86 million during the quarter, compared to analysts’ expectations of $3.58 million. Cempra had a negative net margin of 500.05% and a negative return on equity of 45.72%. The firm’s revenue for the quarter was down 74.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.51) earnings per share. sell-side analysts predict that Cempra will post -1.01 EPS for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Asset Management One Co. Ltd. acquired a new stake in Cempra during the first quarter worth approximately $106,000. Voya Investment Management LLC boosted its position in Cempra by 34.1% during the second quarter. Voya Investment Management LLC now owns 23,006 shares of the biotechnology company’s stock worth $106,000 after acquiring an additional 5,848 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in 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 acquiring an additional 6,800 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in Cempra during the first quarter worth approximately $140,000. Finally, LMR Partners LLP acquired a new stake in Cempra during the second quarter worth approximately $149,000. Hedge funds and other institutional investors own 49.36% 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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