Cempra Inc. (NASDAQ:CEMP)’s share price was down 4.1% during mid-day trading on Thursday . The company traded as low as $17.58 and last traded at $17.63, with a volume of 517,019 shares trading hands. The stock had previously closed at $18.39.

A number of equities analysts have recently issued reports on CEMP shares. Janney Montgomery Scott dropped their price objective on shares of Cempra from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, May 9th. Needham & Company LLC restated a “buy” rating and issued a $48.00 target price on shares of Cempra in a research note on Friday, June 24th. Cowen and Company restated a “buy” rating on shares of Cempra in a research note on Friday, June 24th. JPMorgan Chase & Co. initiated coverage on shares of Cempra in a research note on Tuesday, July 12th. They issued an “overweight” rating and a $31.00 target price for the company. Finally, Stifel Nicolaus lowered their target price on shares of Cempra from $51.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, June 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Cempra currently has an average rating of “Buy” and an average target price of $36.27.

The company’s market capitalization is $851.69 million. The company has a 50 day moving average of $17.94 and a 200-day moving average of $17.62.

Cempra (NASDAQ:CEMP) last announced its earnings results on Monday, May 2nd. The company reported ($0.61) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.02. During the same period in the previous year, the company earned ($0.41) earnings per share. The business had revenue of $2.70 million for the quarter, compared to analysts’ expectations of $3.94 million. Cempra’s quarterly revenue was down 80.7% on a year-over-year basis. Analysts predict that Cempra Inc. will post ($2.58) EPS for the current fiscal year.

A number of large investors have made changes to their positions in the company. BB Biotech AG increased its stake 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 during the last quarter. Wells Fargo & Company MN increased its stake in shares of Cempra by 14.2% in the fourth quarter. Wells Fargo & Company MN now owns 307,113 shares of the company’s stock valued at $9,561,000 after buying an additional 38,204 shares during the last quarter. Gabelli Funds LLC increased its stake in shares of Cempra by 19.7% in the fourth quarter. Gabelli Funds LLC now owns 93,509 shares of the company’s stock valued at $2,911,000 after buying an additional 15,409 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Cempra by 9.6% in the fourth quarter. ProShare Advisors LLC now owns 39,993 shares of the company’s stock valued at $1,245,000 after buying an additional 3,490 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake 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 during the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.