Zacks Investment Research upgraded shares of Cempra, Inc. (NASDAQ:MLNT) from a sell rating to a hold rating in a report issued on Thursday morning.
According to Zacks, “Cempra Holdings, LLC is a pharmaceutical company engaged in developing antibiotics for the treatment of bacterial infectious diseases. It focuses on developing antibiotics for treating respiratory tract, skin and skin structure infections and to target the growing problem of antimicrobial resistance. Cempra Holdings, LLC is headquartered in Chapel Hill, North Carolina. “
A number of other research firms also recently weighed in on MLNT. ValuEngine raised shares of Cempra from a sell rating to a hold rating in a research report on Wednesday, November 8th. Roth Capital downgraded shares of Cempra from a buy rating to a neutral rating and decreased their price objective for the stock from $8.00 to $4.00 in a report on Thursday, August 10th. Stifel Nicolaus reaffirmed a hold rating and issued a $4.00 price objective on shares of Cempra in a report on Thursday, August 10th. Jefferies Group LLC reaffirmed a hold rating and issued a $3.00 price objective on shares of Cempra in a report on Thursday, September 14th. Finally, Robert W. Baird raised shares of Cempra from an underperform rating to a neutral rating and set a $2.00 price objective for the company in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Cempra currently has an average rating of Hold and an average target price of $6.05.
Cempra (MLNT) traded up $0.50 during mid-day trading on Thursday, hitting $13.75. 101,540 shares of the stock were exchanged, compared to its average volume of 137,964. Cempra has a twelve month low of $10.25 and a twelve month high of $41.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.49 and a quick ratio of 11.49.
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Melinta Therapeutics, Inc, formerly Cempra, Inc, is a clinical-stage pharmaceutical company. The Company focuses on developing differentiated antibiotics for the acute care and community settings to meet medical needs in the treatment of bacterial infectious diseases. Its product, solithromycin (CEM-101), which is a macrolide and fluoroketolide, is being developed in oral capsules, intravenous (IV) and suspension formulations for the treatment of community-acquired bacterial pneumonia (CABP).
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