Cempra Inc. (CEMP) Sees Large Volume Increase
Shares of Cempra Inc. (NASDAQ:CEMP) saw strong trading volume on Tuesday . 651,226 shares traded hands during mid-day trading, a decline of 1% from the previous session’s volume of 657,737 shares.The stock last traded at $18.93 and had previously closed at $18.06.
Several equities research analysts recently commented on the company. Roth Capital assumed coverage on Cempra in a report on Tuesday, June 7th. They issued a “buy” rating and a $37.00 price objective for the company. Cowen and Company reiterated a “buy” rating and issued a $39.00 price objective on shares of Cempra in a report on Thursday, April 14th. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of Cempra in a report on Friday, June 24th. Stifel Nicolaus reduced their price objective on Cempra from $51.00 to $47.00 and set a “buy” rating for the company in a report on Friday, June 24th. Finally, Jefferies Group reissued a “buy” rating on shares of Cempra in a research report on Sunday, May 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Cempra presently has a consensus rating of “Buy” and an average price target of $36.27.
The firm’s 50-day moving average price is $18.17 and its 200-day moving average price is $18.26. The company’s market cap is $891.70 million.
Cempra (NASDAQ:CEMP) last announced its earnings results on Monday, May 2nd. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.02. The business had revenue of $2.70 million for the quarter, compared to analyst estimates of $3.94 million. The company’s quarterly revenue was down 80.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.41) earnings per share. Equities analysts predict that Cempra Inc. will post ($2.58) earnings per share for the current year.
Other hedge funds and institutional investors have made changes to their positions in the company. General American Investors Co. Inc. raised its position in shares of Cempra by 190.8% in the fourth quarter. General American Investors Co. Inc. now owns 494,409 shares of the company’s stock valued at $15,391,000 after buying an additional 324,409 shares in the last quarter. Tredje AP fonden acquired a new position in shares of Cempra during the fourth quarter valued at about $4,981,000. BB Biotech AG raised its position in shares of Cempra by 5.3% in the fourth quarter. BB Biotech AG now owns 1,991,900 shares of the company’s stock valued at $62,008,000 after buying an additional 100,000 shares in the last quarter. Sei Investments Co. raised its position in shares of Cempra by 717.8% in the fourth quarter. Sei Investments Co. now owns 110,192 shares of the company’s stock valued at $3,431,000 after buying an additional 96,718 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Cempra by 427.9% in the fourth quarter. California Public Employees Retirement System now owns 117,200 shares of the company’s stock valued at $3,648,000 after buying an additional 95,000 shares in the last quarter.
Cempra Inc is a clinical-stage pharmaceutical company 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. The Company’s lead product, solithromycin, is being developed in oral capsules, intravenous, or IV, and suspension formulations, initially for the treatment of community acquired bacterial pneumonia, or CABP, an infection of the respiratory tract.
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