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

Several research firms recently commented on CEMP. Zacks Investment Research lowered Cempra from a “buy” rating to a “hold” rating in a research report on Thursday. Cowen and Company reissued a “buy” rating on shares of Cempra in a research note on Tuesday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of Cempra in a research note on Wednesday, August 3rd. Roth Capital initiated coverage on shares of Cempra in a research note on Tuesday, June 7th. They set a “buy” rating and a $37.00 price target for the company. Finally, Stifel Nicolaus decreased their price target 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. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $35.17.

The stock’s market capitalization is $1.22 billion. The firm’s 50 day moving average is $19.08 and its 200-day moving average is $17.82.

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

An institutional investor recently raised its position in Cempra stock. Wells Fargo & Company MN boosted its position in shares of Cempra Inc. (NASDAQ:CEMP) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (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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