Shares of Cempra Inc. (NASDAQ:CEMP) traded up 4.2% during mid-day trading on Thursday . The company traded as high as $23.82 and last traded at $23.72, with a volume of 605,399 shares. The stock had previously closed at $22.77.

A number of analysts recently issued reports on the company. Zacks Investment Research raised Cempra from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Thursday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price target on shares of Cempra in a report on Wednesday, August 3rd. Cowen and Company reaffirmed a “buy” rating on shares of Cempra in a report on Tuesday, August 2nd. Robert W. Baird reaffirmed an “outperform” rating and issued a $33.00 price target on shares of Cempra in a report on Tuesday, August 2nd. Finally, Jefferies Group lowered their price target on Cempra from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, August 2nd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $35.17.

The company’s market cap is $1.22 billion. The stock has a 50-day moving average of $18.78 and a 200-day moving average of $17.74.

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

An institutional investor recently raised its position in Cempra stock. California Public Employees Retirement System increased its stake in shares of Cempra Inc. (NASDAQ:CEMP) by 427.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 about 0.27% of Cempra worth $3,648,000 as of its most recent SEC filing.

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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