Cempra, Inc. (NASDAQ:CEMP), a clinical-stage pharmaceutical company focused on developing antibiotics to meet critical medical needs in the treatment of bacterial infectious diseases, today announced that the company has appointedJohn Bluth to the newly created position of executive vice president, investor relations and corporate communications. He will report directly toPrabhavathi Fernandes, Ph.D., president and chief executive officer of Cempra.
“John has exceptional scientific, financial and commercial pharmaceutical experience, and a 20-year track record of building value through effective communication with investors, journalists, physicians and other stakeholders. We are excited to add his experience to the Cempra executive team at such an important time for the company,” Fernandes said.
Prior to joining Cempra, Mr. Bluth headed investor relations and corporate communications for two of Silicon Valley’s leading biotechnology companies, CV Therapeutics, which was acquired in 2009, and Aviron, which was acquired in 2002. Before joining Aviron, Mr. Bluth led the west coast healthcare practice for Fleishman-Hillard, an international public relations firm.
From 2009-2012, he was senior vice president of investor relations and group communications at German-based Elster Group, one of the world’s largest electricity, gas and water measurement and control providers. Mr. Bluth served as a member of Elster’s group executive board and built the investor relations and corporate communications functions for the company through its initial public offering in 2009. Elster was acquired in 2012.
From 2012 through mid-2016, Mr. Bluth was senior vice president of investor relations and corporate communications and served on the executive committee at PowerSecure International, Inc., a leading provider of energy technologies and services to electric utilities and their large industrial, commercial, institutional and municipal customers. PowerSecure was acquired in May 2016.
“If approved, Solithera would represent the first new oral and IV macrolide antibiotic introduced in more than 20 years. I am honored to join a growing company with a dynamic team that is so committed to bringing Cempra’s exciting pipeline of urgently needed new therapies to patients and the physicians who treat them,” Bluth said.
Mr. Bluth holds a Bachelor’s degree in physiology from Cornell University. (Original Source)
Shares of Cempra closed last Friday at $17.97, up $0.30 or 1.70%. CEMP has a 1-year high of $45.75 and a 1-year low of $14.03. The stock’s 50-day moving average is $17.90 and its 200-day moving average is $17.56.
On the ratings front, Cempra has been the subject of a number of recent research reports. In a report issued on July 18, Morgan Stanley analyst Andrew Berens reiterated a Buy rating on CEMP. Separately, on July 12, J.P. Morgan’s Jessica Fye initiated coverage with a Buy rating on the stock and has a price target of $31.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Andrew Berens and Jessica Fye have a total average return of 1.2% and -18.1% respectively. Berens has a success rate of 54.8% and is ranked #1858 out of 4085 analysts, while Fye has a success rate of 36.8% and is ranked #3838.
Overall, 2 research analysts have assigned a Hold rating and 7 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $42.33 which is 135.6% above where the stock closed last Friday.
Cempra, Inc. is a clinical-stage pharmaceutical company. It focuses on developing antibiotics to meet critical medical needs in the treatment of bacterial infectious diseases. The company intends to utilize its series of proprietary lead compounds from its novel macrolide library for uses such as the treatment of chronic inflammatory diseases, endocrine diseases and gastric motility disorders. It has two antibiotic candidates: Solithromycin and Taksta.