Cempra (NASDAQ: CEMP)
Cowen maintained an Outperform rating on Cempra, Inc. (NASDAQ: CEMP), and cut the price target to $39.00 (from $53.00), following the company's 3Q15 earnings results. CEMP announced that it will start a rolling NDA for Solithromycin Oral and IV for CABP in 4Q15. CEMP reported Q3 EPS of ($0.63) vs consensus' ($0.51).

Analyst Ritu Baral commented, "CEMP announced today it will start a rolling NDA for Solithromycin Oral and IV for CABP in 4Q15 with completion by 1H16. Mgmt reiterated strong conviction in the approvability of the NDA with a clean label, despite KOL focus on a higher than expected liver signal in Ph3 IV trial data. We are lowering our target to $39 from $53 on decreased peak share of the IV drug, and a higher discount rate."

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Shares of Cempra, Inc. closed at $15.76 yesterday.