Today: The Cempra Inc. (CEMP) Cut to Hold at Gabelli

The Cempra Inc. (CEMP) Cut to Hold at Gabelli

Gabelli cut shares of Cempra Inc. (NASDAQ:CEMP) from a buy rating to a hold rating in a report released on Wednesday.

Several other brokerages also recently weighed in on CEMP. Jefferies Group set a $40.00 target price on shares of Cempra and gave the stock a buy rating in a research note on Monday, October 24th. Needham & Company LLC restated a buy rating and issued a $48.00 price objective on shares of Cempra in a research report on Wednesday, October 26th. Zacks Investment Research downgraded shares of Cempra from a buy rating to a hold rating in a research report on Thursday, August 11th. Roth Capital set a $34.00 price objective on shares of Cempra and gave the company a buy rating in a research report on Friday, October 28th. Finally, Raymond James Financial Inc. began coverage on shares of Cempra in a research report on Tuesday, September 13th. They issued an outperform rating and a $32.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $19.41.

Shares of Cempra (NASDAQ:CEMP) opened at 6.60 on Wednesday. Cempra has a 1-year low of $5.70 and a 1-year high of $34.24. The stock’s market capitalization is $345.71 million. The firm’s 50-day moving average price is $14.64 and its 200 day moving average price is $18.76.

Cempra (NASDAQ:CEMP) last announced its earnings results on Thursday, October 27th. The company reported ($0.62) earnings per share for the quarter, topping the 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 earned $4 million during the quarter, compared to the consensus estimate of $3.90 million. During the same quarter in the prior year, the firm earned ($0.63) earnings per share. The business’s quarterly revenue was up 60.0% compared to the same quarter last year. Equities research analysts expect that Cempra will post ($2.42) earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Cempra by 8.4% in the second quarter. Vanguard Group Inc. now owns 2,830,273 shares of the company’s stock valued at $46,671,000 after buying an additional 220,015 shares during the last quarter. Palo Alto Investors LLC boosted its stake in Cempra by 129.3% in the second quarter. Palo Alto Investors LLC now owns 2,787,542 shares of the company’s stock valued at $45,967,000 after buying an additional 1,571,709 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in Cempra by 0.7% in the second quarter. TimesSquare Capital Management LLC now owns 2,050,860 shares of the company’s stock valued at $33,819,000 after buying an additional 14,500 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Cempra by 14.1% in the third quarter. BlackRock Fund Advisors now owns 1,826,182 shares of the company’s stock valued at $44,194,000 after buying an additional 225,682 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in 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 valued at $26,571,000 after buying an additional 94,244 shares during the last quarter. 79.94% of the stock is owned by institutional investors and hedge funds.

About Cempra

Related posts

Leave a Comment