Robert W. Baird upgraded shares of Cempra, Inc. (NASDAQ:CEMP) from an underperform rating to a neutral rating in a report issued on Wednesday, MarketBeat Ratings reports. They currently have $2.00 price objective on the biotechnology company’s stock.
Several other brokerages have also commented on CEMP. Zacks Investment Research raised Cempra from a sell rating to a hold rating in a research report on Tuesday, October 17th. Jefferies Group LLC reissued a hold rating and set a $3.00 price objective on shares of Cempra in a research report on Thursday, September 14th. Roth Capital lowered Cempra from a buy rating to a neutral rating and lowered their price objective for the company from $8.00 to $4.00 in a research report on Thursday, August 10th. Finally, Stifel Nicolaus reissued a hold rating and set a $4.00 price objective on shares of Cempra in a research report on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $8.39.
Cempra (CEMP) traded up $0.03 during trading hours on Wednesday, reaching $2.33. 477,661 shares of the company traded hands, compared to its average volume of 768,089. Cempra has a twelve month low of $2.05 and a twelve month high of $9.40. The company has a current ratio of 12.05, a quick ratio of 12.04 and a debt-to-equity ratio of 0.04.
Cempra (NASDAQ:CEMP) last released its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.09. The business had revenue of $0.86 million for the quarter, compared to analysts’ expectations of $3.58 million. Cempra had a negative net margin of 560.40% and a negative return on equity of 53.99%. The firm’s revenue for the quarter was down 74.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.51) earnings per share. analysts predict that Cempra will post -1.01 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of CEMP. Bank of New York Mellon Corp raised its position in shares of Cempra by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 206,840 shares of the biotechnology company’s stock worth $776,000 after purchasing an additional 11,760 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of Cempra in the 1st quarter worth about $140,000. Parametric Portfolio Associates LLC purchased a new position in shares of Cempra in the 1st quarter worth about $314,000. TIAA CREF Investment Management LLC raised its position in shares of Cempra by 76.3% in the 1st quarter. TIAA CREF Investment Management LLC now owns 285,577 shares of the biotechnology company’s stock worth $1,071,000 after purchasing an additional 123,614 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Cempra by 4.6% in the 1st quarter. Geode Capital Management LLC now owns 394,685 shares of the biotechnology company’s stock worth $1,480,000 after purchasing an additional 17,181 shares during the last quarter. 49.39% of the stock is owned by hedge funds and other institutional investors.
Cempra, Inc is a clinical-stage pharmaceutical company. The Company focuses on developing differentiated antibiotics for the acute care and community settings to meet medical needs in the treatment of bacterial infectious diseases. Its product, solithromycin (CEM-101), which is a macrolide and fluoroketolide, is being developed in oral capsules, intravenous (IV) and suspension formulations for the treatment of community-acquired bacterial pneumonia (CABP).
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