Raymond James Financial Inc. Begins Coverage on Cempra Inc. (CEMP)
Equities research analysts at Raymond James Financial Inc. initiated coverage on shares of Cempra Inc. (NASDAQ:CEMP) in a report released on Tuesday, StockTargetPrices.com reports. The firm set an “outperform” rating on the stock.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Cempra from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. 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. JPMorgan Chase & Co. started coverage on shares of Cempra in a research note on Tuesday, July 12th. They issued an “overweight” rating and a $31.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Cempra in a research note on Wednesday, August 3rd. Finally, Stifel Nicolaus decreased 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. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Cempra has a consensus rating of “Buy” and an average price target of $35.17.
Shares of Cempra (NASDAQ:CEMP) opened at 22.65 on Tuesday. The firm’s 50 day moving average is $21.79 and its 200 day moving average is $18.53. Cempra has a 12 month low of $14.03 and a 12 month high of $39.25. The company’s market cap is $1.18 billion.
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Cempra (NASDAQ:CEMP) last announced its quarterly earnings data on Monday, August 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.16. The business had revenue of $3.42 million for the quarter, compared to analysts’ expectations of $3.89 million. Cempra had a negative net margin of 715.34% and a negative return on equity of 63.54%. The firm’s quarterly revenue was down 33.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.57) earnings per share. On average, equities analysts predict that Cempra will post ($2.63) earnings per share for the current year.
Institutional investors have recently modified their holdings of the company. Legal & General Group Plc raised its position in shares of 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. BlackRock Group LTD raised its position in Cempra by 65.3% in the first quarter. BlackRock Group LTD now owns 13,145 shares of the company’s stock valued at $231,000 after buying an additional 5,193 shares during the last quarter. Moody Aldrich Partners LLC purchased a new position in Cempra during the second quarter valued at about $371,000. Fox Run Management L.L.C. purchased a new position in Cempra during the second quarter valued at about $391,000. Finally, Metropolitan Life Insurance Co. NY raised its position in Cempra by 19.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 26,953 shares of the company’s stock valued at $472,000 after buying an additional 4,458 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.
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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