Cempra Inc (NASDAQ:CEMP) shares were falling close to 61% after the FDA released briefing documents yesterday for Friday’s AdComm meeting for the biotech firm’s pipeline oral capsule and injection Solithromycin in community acquired bacterial pneumonia (CABP).

Despite a clear wave of negative investor sentiment, Cowen analyst Ritu Baral notes with bold assertion “We are NOT AT ALL surprised by the conservative, glass half-empty tone of the AdComm documents” and remains undeterred by the briefing documents. With full bullish steam forward, the analyst reiterates an Outperform rating on shares of CEMP with a $31 price target, which represents just under a 322% increase from current levels.

The analyst explains, “In our preview, we noted the shakeup of the division in the agency caused by Ketek (telithromycin). We fully expected the division to be highly conservative when evaluating solithromycin’s safety (due to previous toxic division-wide, even agency-encompassing, fallout from Ketek), as reflected by the tone and level of scrutiny of the documents.”

Overall, “FDA views Solithromycin efficacy as sufficient, noting however liver safety signals (increased ALT) are of concern, but addressable in our view. We think the FDA panel will vote for approval, but with a sizable post-marketing safety commitment,” Baral contends.

According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, two-star analyst Ritu Baral is ranked #2,731 out of 4,165 analysts. Baral has a 31% success rate and faces a loss of 0.3% in her annual returns. When recommending CEMP, Baral loses 36.8% in average profits on the stock.

TipRanks analytics indicate CEMP as a Buy. Out of the 7 analysts polled by TipRanks, 4 are bullish on Cempra stock, 2 remain a sidelined, while 1 is bearish on the stock. With a return potential of 280%, the stock’s consensus target price stands at $27.75.screen-shot-11-03-16-at-05-54-pm