Will The FDA Approve Cempra Inc’s CABP Drug? This Analyst Says Yes
Cempra Inc (NASDAQ:CEMP) shares went on a roller-coaster ride today after the FDA’s Antimicrobial Drugs Advisory Committee voted 7-6 that solithromycin’s efficacy outweighs its risks for the treatment of communityacquired bacterial pneumonia (CABP). Eventually, Cempra shares closed at $6.85, down nearly 9%, after rising as much as 24% earlier.
Roth Capital analyst Michael Higgins chimed in on the news, reiterating a Buy rating on CEMP, with a price target of $27.50, which represents a potential upside of 299% from where the stock is currently trading.
Higgins wrote, “While the tone of the meeting was quite negative, the underlying problem of antibiotic resistance and the lack of adequate...