Cempra Inc. (CEMP) Rating Lowered to Underweight at Morgan Stanley
Cempra Inc. (NASDAQ:CEMP) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “underweight” rating in a research note issued on Wednesday. They currently have a $5.00 price objective on the stock, down from their prior price objective of $35.00. Morgan Stanley’s price target would indicate a potential downside of 22.48% from the company’s current price.
A number of other brokerages have also recently issued reports on CEMP. Raymond James Financial Inc. initiated coverage on shares of Cempra in a research note on Tuesday, September 13th. They issued an “outperform” rating and a $32.00 price objective on the stock. Needham & Company LLC decreased their price objective on shares of Cempra from $36.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, November 7th. Roth Capital set a $34.00 price objective on shares of Cempra and gave the company a “buy” rating in a research note on Friday, October 28th. Zacks Investment Research cut shares of Cempra from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $33.00 price objective on shares of Cempra in a research note on Tuesday, August 2nd. Two equities research 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 stock. The stock has an average rating of “Hold” and an average price target of $19.41.
Cempra (NASDAQ:CEMP) opened at 6.45 on Wednesday. The stock has a 50 day moving average price of $15.30 and a 200-day moving average price of $18.83. The firm’s market cap is $337.86 million. Cempra has a 1-year low of $5.70 and a 1-year high of $34.24.
Cempra (NASDAQ:CEMP) last released its quarterly earnings results on Thursday, October 27th. The company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates 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 company earned $4 million during the quarter, compared to the consensus estimate of $3.90 million. During the same period in the previous year, the business earned ($0.63) earnings per share. The firm’s quarterly revenue was up 60.0% on a year-over-year basis. Equities research analysts forecast that Cempra will post ($2.42) EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in CEMP. Palisade Capital Management LLC NJ raised its position in Cempra by 6.4% in the second quarter. Palisade Capital Management LLC NJ now owns 95,161 shares of the company’s stock valued at $1,569,000 after buying an additional 5,738 shares during the last quarter. California State Teachers Retirement System raised its position in Cempra by 16.6% in the second quarter. California State Teachers Retirement System now owns 86,778 shares of the company’s stock valued at $1,431,000 after buying an additional 12,334 shares during the last quarter. Bank of New York Mellon Corp raised its position in Cempra by 20.6% in the second quarter. Bank of New York Mellon Corp now owns 229,345 shares of the company’s stock valued at $3,781,000 after buying an additional 39,107 shares during the last quarter. Rice Hall James & Associates LLC purchased a new position in Cempra during the second quarter valued at about $2,400,000. Finally, Moody Aldrich Partners LLC purchased a new position in Cempra during the second quarter valued at about $371,000. Institutional investors and hedge funds own 77.80% of the company’s stock.
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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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