Cempra Inc. (NASDAQ:CEMP) shares traded down 1% during mid-day trading on Friday . The stock traded as low as $21.80 and last traded at $22.06, with a volume of 286,166 shares traded. The stock had previously closed at $22.29.

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Cempra in a research report on Tuesday, July 12th. They set an “overweight” rating and a $31.00 price target on the stock. Janney Montgomery Scott reiterated a “hold” rating on shares of Cempra in a research report on Tuesday, May 10th. Robert W. Baird reiterated an “outperform” rating and set a $33.00 price target on shares of Cempra in a research report on Tuesday, August 2nd. Cowen and Company reiterated a “buy” rating and set a $39.00 price target on shares of Cempra in a research report on Thursday, May 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $48.00 price target on shares of Cempra in a research report on Wednesday, August 3rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $35.17.

The stock’s market cap is $1.15 billion. The firm’s 50 day moving average price is $21.05 and its 200 day moving average price is $18.33.

Cempra (NASDAQ:CEMP) last issued its quarterly earnings results on Monday, August 1st. The company reported ($0.51) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.67) by $0.16. The company earned $3.42 million during the quarter, compared to the consensus estimate of $3.89 million. The firm’s revenue for the quarter was down 33.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.57) EPS. 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. Wells Fargo & Company MN raised its position in shares of Cempra Inc. (NASDAQ:CEMP) by 14.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 307,113 shares of the company’s stock after buying an additional 38,204 shares during the period. Wells Fargo & Company MN owned about 0.70% of Cempra worth $9,561,000 at the end of the most recent reporting period.

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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