Cempra (CEMP): Two Key Upcoming Catalysts - Needham

October 25, 2016 8:24 AM EDT
Get Alerts CEMP Hot Sheet
Price: $3.00 -6.25%

Rating Summary:
    2 Buy, 12 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Needham & Company analyst, Alan Carr, reiterated his Buy rating on shares of Cempra, Inc. (NASDAQ: CEMP) ahead of the FDA Advisory Committee (AdCom) meeting scheduled for 11/4/16 where the Solithera NDA will be reviewed.

Cempra announced positive efficacy results from two Phase 3 trials (SOLITAIRE-Oral and SOLITAIRE-IV) in Community Pneumonia (CABP) in 2015. The analyst is expecting a positive vote, followed by approval on the 12/27/16 PDUFA date.

Structural similarities to another macrolide derivatives (Telithromycin/ Ketek) have prompted concerns around Solithera safety. However, the analyst believes issues have been adequately addressed and the overall profile is acceptable for the FDA.

No change to the price target of $48.

For an analyst ratings summary and ratings history on Cempra, Inc. click here. For more ratings news on Cempra, Inc. click here.

Shares of Cempra, Inc. closed at $23.97 yesterday.

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