Cempra Inc. (NASDAQ:CEMP)’s share price was up 2% during trading on Wednesday . The stock traded as high as $22.47 and last traded at $21.86, with a volume of 514,163 shares traded. The stock had previously closed at $21.44.

Several equities analysts recently commented on CEMP shares. Janney Montgomery Scott cut their target price on Cempra from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, May 9th. Jefferies Group cut their target price on Cempra from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $48.00 target price on shares of Cempra in a research report on Friday, June 24th. Cowen and Company restated a “buy” rating on shares of Cempra in a research report on Friday, June 24th. Finally, JPMorgan Chase & Co. started coverage on Cempra in a research report on Tuesday, July 12th. They set an “overweight” rating and a $31.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $35.17.

The stock’s market capitalization is $1.16 billion. The company’s 50 day moving average is $20.95 and its 200-day moving average is $18.31.

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

An institutional investor recently raised its position in Cempra stock. Ameriprise Financial Inc. boosted its stake in Cempra Inc. (NASDAQ:CEMP) by 78.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,281 shares of the company’s stock after buying an additional 27,438 shares during the period. Ameriprise Financial Inc. owned 0.14% of Cempra worth $1,939,000 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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