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Jefferies hikes target on Cempra

  • Jefferies is out reiterating a Buy rating on Cempra (CEMP -9.4%) on the heels of Monday night's solithromycin and Taksta update.
  • The company notes that it has initiated a Phase 3 study of Solitaire-IV in CABP and says it expects a top-line read-out from Phase 3 Solitaire-Oral in "mid-2014." (PR)
  • Analyst Eun Yang says a "potential commercial partnership for solithromycin is likely after [the] first Phase 3 data in CABP" an event he expects will "offer meaningful upside from current levels."
  • Price target raised to $16 from $14.
Comments (2)
  • Thomas Phillips
    , contributor
    Comments (35) | Send Message
     
    And yet CEMP is down big today.
    17 Dec 2013, 12:11 PM Reply Like
  • dct438lp
    , contributor
    Comments (2) | Send Message
     
    Yeah, analyst on the update call for trials increases his price target, ie analyst obviously felt like the update went well.... strange drop IMHO. Perhaps a point to get in
    18 Dec 2013, 12:45 PM Reply Like
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