Cempra Inc. (CEMP) Upgraded by Zacks Investment Research to “Strong-Buy”
Zacks Investment Research upgraded shares of Cempra Inc. (NASDAQ:CEMP) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday. The firm currently has $25.00 target price on the stock.
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 a number of other research reports. Raymond James Financial Inc. assumed coverage on Cempra in a research report on Tuesday, September 13th. They issued an outperform rating and a $32.00 price target for the company. JPMorgan Chase & Co. assumed coverage on Cempra in a research report on Tuesday, July 12th. They issued an overweight rating and a $31.00 price target for the company. Robert W. Baird reaffirmed an outperform rating and issued a $33.00 price target on shares of Cempra in a research report on Tuesday, August 2nd. Needham & Company LLC reissued a buy rating and set a $48.00 price objective on shares of Cempra in a research report on Wednesday, August 3rd. Finally, WBB Securities reissued a buy rating and set a $40.00 price objective on shares of Cempra in a research report on Tuesday, July 5th. Two 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 company’s stock. The stock presently has an average rating of Buy and a consensus target price of $34.92.
Cempra (NASDAQ:CEMP) opened at 22.10 on Tuesday. Cempra has a 52-week low of $14.03 and a 52-week high of $34.24. The stock’s market capitalization is $1.15 billion. The company’s 50-day moving average price is $23.21 and its 200 day moving average price is $19.64.
Cempra (NASDAQ:CEMP) last announced its quarterly earnings results on Monday, August 1st. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.16. Cempra had a negative return on equity of 63.54% and a negative net margin of 715.34%. The company earned $3.42 million during the quarter, compared to analysts’ expectations of $3.89 million. During the same quarter in the previous year, the firm earned ($0.57) earnings per share. The business’s quarterly revenue was down 33.3% compared to the same quarter last year. On average, equities research analysts anticipate that Cempra will post ($2.63) earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in CEMP. Macquarie Group Ltd. bought a new stake in Cempra during the second quarter valued at $729,000. Schwab Charles Investment Management Inc. raised its stake in Cempra by 7.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 148,128 shares of the company’s stock valued at $2,443,000 after buying an additional 9,908 shares in the last quarter. Stifel Financial Corp raised its stake in Cempra by 7.5% in the second quarter. Stifel Financial Corp now owns 91,666 shares of the company’s stock valued at $1,512,000 after buying an additional 6,427 shares in the last quarter. Legal & General Group Plc raised its stake in Cempra by 5.8% in the second quarter. Legal & General Group Plc now owns 7,102 shares of the company’s stock valued at $117,000 after buying an additional 391 shares in the last quarter. Finally, Palo Alto Investors LLC raised its stake in Cempra by 129.3% in the second quarter. Palo Alto Investors LLC now owns 2,787,542 shares of the company’s stock valued at $45,967,000 after buying an additional 1,571,709 shares in the last quarter. Institutional investors own 78.31% of the company’s stock.
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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