Palo Alto Investors buys $28,632,867 stake in Cempra Inc (CEMP)

Cempra Inc (CEMP) : Palo Alto Investors scooped up 40,100 additional shares in Cempra Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,215,833 shares of Cempra Inc which is valued at $28,632,867.Cempra Inc makes up approximately 2.11% of Palo Alto Investors’s portfolio.

Other Hedge Funds, Including , Jane Street Group sold out all of its stake in CEMP during the most recent quarter. The investment firm sold 16,165 shares of CEMP which is valued $380,686.Tiaa Cref Investment Management boosted its stake in CEMP in the latest quarter, The investment management firm added 17,883 additional shares and now holds a total of 165,246 shares of Cempra Inc which is valued at $3,891,543.California Public Employees Retirement System reduced its stake in CEMP by selling 2,700 shares or 3.02% in the most recent quarter. The Hedge Fund company now holds 86,800 shares of CEMP which is valued at $1,926,960.Candriam Luxembourg S.c.a. reduced its stake in CEMP by selling 6,000 shares or 5.22% in the most recent quarter. The Hedge Fund company now holds 109,000 shares of CEMP which is valued at $2,004,510. Cempra Inc makes up approx 0.05% of Candriam Luxembourg S.c.a.’s portfolio.Huntington National Bank reduced its stake in CEMP by selling 249 shares or 20.85% in the most recent quarter. The Hedge Fund company now holds 945 shares of CEMP which is valued at $17,379.

Cempra Inc opened for trading at $21.99 and hit $22.5 on the upside on Thursday, eventually ending the session at $22.29, with a gain of 1.60% or 0.35 points. The heightened volatility saw the trading volume jump to 7,37,312 shares. Company has a market cap of $1,159 M.

On the company’s financial health, Cempra Inc reported $-0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $-0.66. The company had revenue of $3.40 million for the quarter, compared to analysts expectations of $3.88 million. The company’s revenue was down -33.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.57 EPS.

Many Wall Street Analysts have commented on Cempra Inc. Shares were Reiterated by Jefferies on Aug 2, 2016 to “Buy” and Lowered the Price Target to $ 40 from a previous price target of $42 .JP Morgan Initiated Cempra Inc on Jul 12, 2016 to “Overweight”, Price Target of the shares are set at $31.Shares were Reiterated by Stifel on Jun 24, 2016 to “Buy” and Lowered the Price Target to $ 47 from a previous price target of $51 .

Cempra Inc. is a clinical-stage pharmaceutical company focused on developing differentiated antibiotics for the acute care and community settings to meet medical needs in the treatment of bacterial infectious diseases particularly respiratory tract infections and chronic staphylococcal infections. The Company’s lead product solithromycin is being developed in oral capsules intravenous or IV and suspension formulations initially for the treatment of community acquired bacterial pneumonia or CABP an infection of the respiratory tract. The Company’s second product is Taksta an antibiotic known as fusidic acid that has been used for decades outside the United States including Western Europe but which has never been approved in the United States. The Company is developing Taksta in the United States as an oral treatment of refractory bone and joint infections caused by staphylococci.

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