With Cempra Inc (NASDAQ:CEMP) preparing to release second-quarter earnings tomorrow after market close, Roth Capital analyst Debjit Chattopadhyay weighed in today with a research note, reiterating a Buy rating on the stock with a $56 price target, which represents a potential upside of 28% from where CEMP is trading.
Chattopadhyay observed, “With Cempra’s pipeline in a product, solithromycin, firing on all cylinders, its upcoming 2Q15 corporate update is likely to focus primarily on ongoing and planned clinical studies. Key updates are likely to include anticipated timing of: Solitaire IV topline data; regulatory filings; pediatric; COPD; NASH; and, gonorrhea studies. Additionally FDA feedback on Taksta phase 3 and ERS abstract notification is expected over the near-term.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Debjit Chattopadhyay has a total average return of 31.4% and a 65.1% success rate. Chattopadhyay has a 20.4% average return when recommending CEMP, and is ranked #20 out of 3712 analysts.
Shares of Cempra closed today at $43.53, down $1.73 or 3.82%.