Needham & Company Starts Cempra, Inc. (CEMP) at Buy; Late-Stage Antibiotic Company
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Price: $2.33 --0%
Rating Summary:
1 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
1 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Needham & Company initiates coverage on Cempra, Inc. (NASDAQ: CEMP) with a Buy. PT $11.00.
Analyst, Alan Carr, said, "Cempra is developing two antibiotics, Solithromycin and Taksta. Solithromycin, a macrolide, targets the large community-acquired bacterial pneumonia (CABP) market. Taksta (fusidic acid), a unique narrow-spectrum Gram-positive agent, is under development for the treatment of prosthetic joint infections (PJI). We project approval and launch of both drugs in 2016. We expect the former to be partnered and the latter to be commercialized by an internal sales force. We believe peak sales potential is $1B for solithromycin and $250M for Taksta."
"Cempra ended 3Q11 with $9.0M in cash and raised $10M in debt in Dec 2001. The company raised $54.7M in the Feb 2012 IPO. We believe this is sufficient into 2014."
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 $7.62 yesterday.
Analyst, Alan Carr, said, "Cempra is developing two antibiotics, Solithromycin and Taksta. Solithromycin, a macrolide, targets the large community-acquired bacterial pneumonia (CABP) market. Taksta (fusidic acid), a unique narrow-spectrum Gram-positive agent, is under development for the treatment of prosthetic joint infections (PJI). We project approval and launch of both drugs in 2016. We expect the former to be partnered and the latter to be commercialized by an internal sales force. We believe peak sales potential is $1B for solithromycin and $250M for Taksta."
"Cempra ended 3Q11 with $9.0M in cash and raised $10M in debt in Dec 2001. The company raised $54.7M in the Feb 2012 IPO. We believe this is sufficient into 2014."
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 $7.62 yesterday.
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