Needham & Company LLC Lowers Cempra Inc. (CEMP) to Hold
Cempra Inc. (NASDAQ:CEMP) was downgraded by research analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a report released on Friday.
A number of other brokerages also recently commented on CEMP. Jefferies Group set a $40.00 price objective on Cempra and gave the stock a “buy” rating in a research report on Monday, October 24th. Zacks Investment Research downgraded Cempra from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Roth Capital set a $34.00 price objective on Cempra and gave the stock a “buy” rating in a research report on Friday, October 28th. Raymond James Financial Inc. began coverage on Cempra in a research report on Tuesday, September 13th. They set an “outperform” rating and a $32.00 price objective for the company. Finally, Cowen and Company reissued a “buy” rating on shares of Cempra in a research report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $19.41.
Cempra (NASDAQ:CEMP) opened at 6.65 on Friday. Cempra has a 52-week low of $5.70 and a 52-week high of $34.24. The stock’s market capitalization is $348.33 million. The firm’s 50-day moving average is $19.77 and its 200-day moving average is $19.48.
Cempra (NASDAQ:CEMP) last issued its quarterly earnings results on Thursday, October 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.64) by $0.02. The company had revenue of $4 million for the quarter, compared to analyst estimates of $3.90 million. Cempra had a negative net margin of 678.72% and a negative return on equity of 59.94%. The business’s revenue for the quarter was up 60.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.63) earnings per share. Analysts predict that Cempra will post ($2.42) earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Cempra by 0.4% in the third quarter. BlackRock Inc. now owns 4,590 shares of the company’s stock valued at $111,000 after buying an additional 17 shares during the period. Advisor Group Inc. boosted its stake in Cempra by 2,258.0% in the third quarter. Advisor Group Inc. now owns 6,508 shares of the company’s stock valued at $157,000 after buying an additional 6,232 shares during the period. Legal & General Group Plc boosted 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 during the period. Prudential Financial Inc. bought a new stake in Cempra during the third quarter valued at approximately $202,000. Finally, SG Americas Securities LLC bought a new stake in Cempra during the third quarter valued at approximately $363,000. Institutional investors and hedge funds own 78.52% of the company’s stock.
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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