Cempra Inc. (CEMP) Stock Rating Lowered by Cowen and Company
Cempra Inc. (NASDAQ:CEMP) was downgraded by equities research analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday.
Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price target on shares of Cempra in a research report on Wednesday, August 3rd. Jefferies Group cut shares of Cempra from a “buy” rating to a “hold” rating and lowered their price target for the stock from $36.00 to $10.00 in a research report on Monday, November 7th. Robert W. Baird reissued an “underperform” rating and set a $6.00 target price on shares of Cempra in a research report on Tuesday, November 8th. Gabelli cut shares of Cempra from a “buy” rating to a “hold” rating in a research report on Monday, November 7th. Finally, Morgan Stanley cut shares of Cempra from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $35.00 to $5.00 in a research report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $19.41.
Shares of Cempra (NASDAQ:CEMP) opened at 6.45 on Monday. The company’s 50 day moving average is $15.75 and its 200 day moving average is $18.91. The company’s market cap is $337.86 million. Cempra has a 12 month low of $5.70 and a 12 month high of $34.24.
Cempra (NASDAQ:CEMP) last issued its earnings results on Thursday, October 27th. The company reported ($0.62) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.64) by $0.02. The business had revenue of $4 million for the quarter, compared to the consensus estimate of $3.90 million. Cempra had a negative net margin of 678.72% and a negative return on equity of 59.94%. The company’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) EPS. On average, equities research analysts predict that Cempra will post ($2.42) EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC purchased a new stake in Cempra during the third quarter valued at approximately $3,714,000. Knoll Capital Management LP purchased a new stake in Cempra during the third quarter valued at approximately $4,318,000. D. E. Shaw & Co. Inc. raised 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. purchased a new stake in Cempra during the third quarter valued at approximately $786,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Cempra during the third quarter valued at approximately $700,000. Hedge funds and other institutional investors own 77.80% 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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