Cempra Inc. (CEMP) Lowered to “Hold” at Needham & Company LLC
Cempra Inc. (NASDAQ:CEMP) was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
A number of other brokerages have also commented on CEMP. Gabelli lowered shares of Cempra from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley lowered shares of Cempra from an “overweight” rating to an “underweight” rating and decreased their price target for the stock from $35.00 to $5.00 in a report on Wednesday. Cowen and Company lowered shares of Cempra from an “outperform” rating to a “market perform” rating in a report on Monday. Vetr raised shares of Cempra from a “hold” rating to a “strong-buy” rating and set a $9.19 price target on the stock in a report on Thursday, November 10th. Finally, Robert W. Baird reissued an “underperform” rating and issued a $6.00 price target on shares of Cempra in a report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.41.
Cempra (NASDAQ:CEMP) remained flat at $6.45 during trading on Wednesday. 1,235,200 shares of the company’s stock were exchanged. The stock’s market capitalization is $337.86 million. The firm has a 50-day moving average of $15.75 and a 200 day moving average of $18.91. Cempra has a 12 month low of $5.70 and a 12 month high of $34.24.
Cempra (NASDAQ:CEMP) last posted its earnings results on Thursday, October 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.64) by $0.02. Cempra had a negative net margin of 678.72% and a negative return on equity of 59.94%. The business had revenue of $4 million for the quarter, compared to analysts’ expectations of $3.90 million. During the same period in the prior year, the company posted ($0.63) EPS. The business’s revenue for the quarter was up 60.0% compared to the same quarter last year. On average, analysts expect that Cempra will post ($2.42) earnings per share for the current year.
Several large investors have recently bought and sold shares of the company. Chartwell Investment Partners LLC bought a new stake in Cempra during the third quarter valued at approximately $3,714,000. Knoll Capital Management LP bought a new stake in Cempra during the third quarter valued at approximately $4,318,000. D. E. Shaw & Co. Inc. boosted its stake in Cempra by 149.2% in the third quarter. D. E. Shaw & Co. Inc. now owns 274,709 shares of the company’s stock valued at $6,648,000 after buying an additional 164,465 shares in the last quarter. Platinum Investment Management Ltd. bought a new stake in Cempra during the third quarter valued at approximately $786,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Cempra during the third quarter valued at approximately $700,000. 77.80% of the stock is owned by hedge funds and other institutional investors.
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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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