Needham & Company Maintains Buy on Cempra (CEMP) After Q4 Results
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Price: $2.33 --0%
Rating Summary:
1 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterated its Buy rating and $11 price target on Cempra, Inc. (NASDAQ: CEMP) following Q4 results.
The firm comments: "Cempra announced 2011 financial results last week and presented additional data at the ECCMID conference over the weekend. The company maintained guidance for initiation of an oral solithromycin Phase 3 program in 2H12. Results of a Phase 1 IV solithromycin program are not expected until 2H12 (was 2Q12). A Phase 2/3 Taksta trial in prosthetic joint infection (PJI) is on track for 4Q12. We believe the stock looks attractive for the long-term investor at current valuation (~$95M 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 $7.55 yesterday.
The firm comments: "Cempra announced 2011 financial results last week and presented additional data at the ECCMID conference over the weekend. The company maintained guidance for initiation of an oral solithromycin Phase 3 program in 2H12. Results of a Phase 1 IV solithromycin program are not expected until 2H12 (was 2Q12). A Phase 2/3 Taksta trial in prosthetic joint infection (PJI) is on track for 4Q12. We believe the stock looks attractive for the long-term investor at current valuation (~$95M 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 $7.55 yesterday.
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