Cempra Inc. (NASDAQ:CEMP) traded down 4.7% during mid-day trading on Wednesday . The stock traded as low as $22.91 and last traded at $23.25, with a volume of 370,174 shares. The stock had previously closed at $24.40.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Cempra from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Thursday, August 4th. Cowen and Company restated a “buy” rating on shares of Cempra in a research note on Tuesday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price target on shares of Cempra in a research note on Wednesday, August 3rd. Roth Capital started coverage on shares of Cempra in a research note on Tuesday, June 7th. They set a “buy” rating and a $37.00 price target on the stock. Finally, Stifel Nicolaus decreased their price target 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. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $35.17.

The stock’s 50-day moving average price is $18.66 and its 200 day moving average price is $17.71. The company’s market capitalization is $1.18 billion.

Cempra (NASDAQ:CEMP) last posted its quarterly earnings results on Monday, August 1st. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.16. The business earned $3.42 million during the quarter, compared to the consensus estimate of $3.89 million. During the same quarter last year, the company posted ($0.57) EPS. The firm’s revenue was down 33.3% on a year-over-year basis. Equities analysts anticipate that Cempra Inc. will post ($2.63) EPS for the current year.

An institutional investor recently raised its position in Cempra stock. California Public Employees Retirement System boosted its position in shares of Cempra Inc. (NASDAQ:CEMP) by 427.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,200 shares of the company’s stock after buying an additional 95,000 shares during the period. California Public Employees Retirement System owned approximately 0.27% of Cempra worth $3,648,000 as of its most recent filing with the SEC.

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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