The Cempra Inc. (CEMP) Rating Increased to Strong-Buy at Zacks Investment Research

The Cempra Inc. (CEMP) Rating Increased to Strong-Buy at Zacks Investment Research

Cempra Inc. (NASDAQ:CEMP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday. The firm currently has a $25.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 12.11% from the stock’s previous close.

According to Zacks, “Cempra Holdings, LLC is a pharmaceutical company engaged in developing antibiotics for the treatment of bacterial infectious diseases. It focuses on developing antibiotics for treating respiratory tract, skin and skin structure infections and to target the growing problem of antimicrobial resistance. Cempra Holdings, LLC is headquartered in Chapel Hill, North Carolina. “

A number of other research firms also recently commented on CEMP. Cowen and Company reiterated a “buy” rating on shares of Cempra in a research note on Friday, June 24th. Stifel Nicolaus reduced their price objective on shares of Cempra from $51.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, June 24th. Jefferies Group reduced their price objective on shares of Cempra from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price objective on shares of Cempra in a research note on Friday, June 24th. Finally, WBB Securities reiterated a “buy” rating and set a $40.00 price objective on shares of Cempra in a research note on Tuesday, July 5th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $34.92.

Cempra (NASDAQ:CEMP) opened at 22.30 on Tuesday. Cempra has a 1-year low of $14.03 and a 1-year high of $34.24. The firm’s market capitalization is $1.16 billion. The firm has a 50-day moving average of $23.19 and a 200-day moving average of $19.66.

Cempra (NASDAQ:CEMP) last announced its earnings results on Monday, August 1st. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.16. The business earned $3.42 million during the quarter, compared to the consensus estimate of $3.89 million. Cempra had a negative net margin of 715.34% and a negative return on equity of 63.54%. The business’s quarterly revenue was down 33.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.57) earnings per share. On average, analysts expect that Cempra will post ($2.63) earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in CEMP. Legal & General Group Plc boosted its stake in Cempra by 23.0% in the first quarter. Legal & General Group Plc now owns 6,711 shares of the company’s stock worth $114,000 after buying an additional 1,256 shares during the period. Quantitative Investment Management LLC boosted its stake in Cempra by 3.8% in the second quarter. Quantitative Investment Management LLC now owns 16,300 shares of the company’s stock worth $268,000 after buying an additional 600 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Cempra by 22.9% in the second quarter. UBS Asset Management Americas Inc. now owns 17,700 shares of the company’s stock worth $292,000 after buying an additional 3,300 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Cempra by 7.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 17,953 shares of the company’s stock worth $296,000 after buying an additional 1,199 shares during the period. Finally, Johnson Investment Counsel Inc. boosted its stake in Cempra by 1.0% in the second quarter. Johnson Investment Counsel Inc. now owns 19,590 shares of the company’s stock worth $323,000 after buying an additional 200 shares during the period. 78.31% of the stock is currently owned by institutional investors and hedge funds.

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.

Related posts

Leave a Comment