Cempra (CEMP): Preview Of Upcoming Catalyst - Jefferies
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Jefferies analyst, Eun Yang, reiterated his Buy rating on shares of Cempra, Inc. (NASDAQ: CEMP) ahead of the FDA panel for lead product Solithera (Soli) for CABP on 11/4/16, negative sentiment stemming from liver safety concerns heavily weighs on shares. Given the prior document discussions & other approved antibiotics profiles, the analyst believes these concerns are overblown. Significant downside (>50%) exists if the panel vote is negative but the analyst views a more likely positive outcome (~70-80% likelihood), risk/reward skews to the upside (>50%).
No change to the price target of $45.
Shares of Cempra, Inc. closed at $23.76 yesterday.
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