Cempra Inc. (CEMP) Sees Large Drop in Short Interest
Cempra Inc. (NASDAQ:CEMP) was the target of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 7,727,618 shares, a decline of 21.6% from the October 31st total of 9,852,048 shares. Based on an average daily trading volume, of 5,690,271 shares, the days-to-cover ratio is currently 1.4 days. Approximately 16.9% of the shares of the company are short sold.
Shares of Cempra (NASDAQ:CEMP) opened at 6.60 on Monday. The stock has a 50 day moving average price of $14.64 and a 200-day moving average price of $18.76. Cempra has a 52-week low of $5.70 and a 52-week high of $34.24. The stock’s market capitalization is $345.71 million.
Cempra (NASDAQ:CEMP) last released 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. Cempra had a negative return on equity of 59.94% and a negative net margin of 678.72%. The firm had revenue of $4 million for the quarter, compared to analyst estimates of $3.90 million. During the same quarter last year, the company posted ($0.63) earnings per share. The business’s revenue was up 60.0% on a year-over-year basis. On average, equities research analysts predict that Cempra will post ($2.42) EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Cempra by 8.4% in the second quarter. Vanguard Group Inc. now owns 2,830,273 shares of the company’s stock worth $46,671,000 after buying an additional 220,015 shares in the last quarter. Palo Alto Investors LLC increased its stake in shares of Cempra by 129.3% in the second quarter. Palo Alto Investors LLC now owns 2,787,542 shares of the company’s stock worth $45,967,000 after buying an additional 1,571,709 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in shares of Cempra by 0.7% in the second quarter. TimesSquare Capital Management LLC now owns 2,050,860 shares of the company’s stock worth $33,819,000 after buying an additional 14,500 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Cempra by 14.1% in the third quarter. BlackRock Fund Advisors now owns 1,826,182 shares of the company’s stock worth $44,194,000 after buying an additional 225,682 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Cempra by 9.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,097,981 shares of the company’s stock worth $26,571,000 after buying an additional 94,244 shares during the last quarter. 77.80% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on CEMP. Needham & Company LLC cut Cempra from a “buy” rating to a “hold” rating in a report on Wednesday, November 23rd. Gabelli cut Cempra from a “buy” rating to a “hold” rating in a report on Wednesday, November 23rd. Morgan Stanley cut Cempra from an “overweight” rating to an “underweight” rating and decreased their price objective for the company from $35.00 to $5.00 in a report on Wednesday, November 23rd. Cowen and Company cut Cempra from an “outperform” rating to a “market perform” rating in a report on Monday, November 21st. Finally, Vetr raised Cempra from a “hold” rating to a “strong-buy” rating and set a $9.19 price objective for the company in a report on Thursday, November 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Cempra currently has a consensus rating of “Hold” and a consensus price target of $19.41.
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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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