Cempra Inc (CEMP) reported quarterly earnings results on Monday, Aug-1-2016. The company said it had a profit of $-0.51 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.15. Analysts had a consensus of $-0.66. The company posted revenue of $3.40 million in the period, compared to analysts expectations of $3.88 million. The company’s revenue was down -33.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.57 EPS.
Many Wall Street Analysts have commented on Cempra Inc. JP Morgan Initiated Cempra Inc on Jul 12, 2016 to “Overweight”, Price Target of the shares are set at $31.Shares were Reiterated by Stifel on Jun 24, 2016 to “Buy” and Lowered the Price Target to $ 47 from a previous price target of $51 .ROTH Capital Resumed Cempra Inc on Jun 7, 2016 to “Buy”, Price Target of the shares are set at $37.
Cempra Inc opened for trading at $17.65 and hit $18.18 on the upside on Friday, eventually ending the session at $17.97, with a gain of 1.70% or 0.3 points. The heightened volatility saw the trading volume jump to 5,99,193 shares. Company has a market cap of $866 M.
In a different news, on Mar 2, 2016, David Moore (Chief Commercial Officer) purchased 500 shares at $16.18 per share price. According to the SEC, on Jan 6, 2016, Dov A Md Goldstein (director) sold 842 shares at $30.07 per share price. On Dec 15, 2015, David W. Oldach (Chief Medical Officer) sold 10,000 shares at $30.17 per share price, according to the Form-4 filing with the securities and exchange commission.
Cempra Inc. is a clinical-stage pharmaceutical company 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. The Company’s lead product solithromycin is being developed in oral capsules intravenous or IV and suspension formulations initially for the treatment of community acquired bacterial pneumonia or CABP an infection of the respiratory tract. The Company’s second product is Taksta an antibiotic known as fusidic acid that has been used for decades outside the United States including Western Europe but which has never been approved in the United States. The Company is developing Taksta in the United States as an oral treatment of refractory bone and joint infections caused by staphylococci.