Brokerages Set Gemphire Therapeutics Inc. (GEMP) Target Price at $20.80
Gemphire Therapeutics Inc. (NASDAQ:GEMP) has been given an average rating of “Buy” by the six brokerages that are presently covering the company. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $20.80.
Several research firms recently issued reports on GEMP. Canaccord Genuity set a $17.00 price target on shares of Gemphire Therapeutics and gave the stock a “buy” rating in a research report on Monday, January 30th. Zacks Investment Research lowered shares of Gemphire Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 7th.
Several hedge funds have recently bought and sold shares of the company. Blue Clay Capital Management LLC purchased a new stake in Gemphire Therapeutics during the third quarter valued at about $131,000. Adage Capital Partners GP L.L.C. purchased a new stake in Gemphire Therapeutics during the third quarter valued at about $3,976,000. Spark Investment Management LLC purchased a new stake in Gemphire Therapeutics during the third quarter valued at about $198,000. Finally, Monashee Investment Management LLC purchased a new stake in Gemphire Therapeutics during the third quarter valued at about $144,000. Institutional investors and hedge funds own 14.85% of the company’s stock.
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Shares of Gemphire Therapeutics (NASDAQ:GEMP) opened at 9.75 on Tuesday. The firm’s market cap is $90.38 million. The firm’s 50-day moving average is $9.96 and its 200-day moving average is $10.00. Gemphire Therapeutics has a 12-month low of $7.25 and a 12-month high of $13.98.
Gemphire Therapeutics Company Profile
Gemphire Therapeutics Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the development and commercialization of therapeutics to treat cardiovascular and metabolic diseases. It is developing its product candidate, gemcabene (CI-1027), which is a once-daily, oral therapy for patients who are unable to achieve normal levels of low-density lipoprotein cholesterol (LDL-C) or triglycerides with approved therapies, primarily statin therapy.
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