Needham & Company Reiterates a 'Buy' on Cempra, Inc. (CEMP); Comments From Conference Call
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Price: $6.88 +0.44%
Rating Summary:
7 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
7 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Needham & Company reiterates a 'Buy' on Cempra, Inc. (NASDAQ: CEMP) price target of $11.00.
Analyst, Alan Carr, said, "Cempra management hosted a 1Q12 conference call yesterday after market close. The company maintained guidance for initiation of an oral solithromycin Phase 3 trial in Community Acquired Bacterial Pneumonia (CABP) in 2H12. A Phase 3 plan has been submitted to the FDA, but the company is still awaiting a response for confirmation of trial design. Results of a Phase 1 IV solithromycin trial are expected in 2H12, which may facilitate partnership discussions. We believe the stock is attractive for the long-term investor at current valuation (~$70M EV), given strengths of the two antibiotic programs and unmet needs in the pneumonia and prosthetic joint infection markets."
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 $6.45 yesterday, with a 52 week range of $6.00-$8.50.
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Analyst, Alan Carr, said, "Cempra management hosted a 1Q12 conference call yesterday after market close. The company maintained guidance for initiation of an oral solithromycin Phase 3 trial in Community Acquired Bacterial Pneumonia (CABP) in 2H12. A Phase 3 plan has been submitted to the FDA, but the company is still awaiting a response for confirmation of trial design. Results of a Phase 1 IV solithromycin trial are expected in 2H12, which may facilitate partnership discussions. We believe the stock is attractive for the long-term investor at current valuation (~$70M EV), given strengths of the two antibiotic programs and unmet needs in the pneumonia and prosthetic joint infection markets."
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 $6.45 yesterday, with a 52 week range of $6.00-$8.50.
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