RBC Capital Markets Reaffirms Outperform Rating for Gemphire Therapeutics Inc (GEMP)
RBC Capital Markets reaffirmed their outperform rating on shares of Gemphire Therapeutics Inc (NASDAQ:GEMP) in a research note issued to investors on Friday morning. The brokerage currently has a $25.00 price objective on the stock.
Several other equities research analysts have also weighed in on GEMP. Canaccord Genuity started coverage on Gemphire Therapeutics in a research report on Tuesday, August 30th. They set a buy rating and a $17.00 target price on the stock. Jefferies Group initiated coverage on Gemphire Therapeutics in a research note on Tuesday, August 30th. They set a buy rating and a $15.00 price target on the stock. Royal Bank Of Canada initiated coverage on Gemphire Therapeutics in a research note on Tuesday, August 30th. They set an outperform rating and a $25.00 price target on the stock. Finally, Laidlaw initiated coverage on Gemphire Therapeutics in a research note on Tuesday, September 6th. They set a buy rating and a $20.00 price target on the stock. Five analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average price target of $20.40.
Gemphire Therapeutics (NASDAQ:GEMP) opened at 9.99 on Friday. The stock’s 50 day moving average price is $10.75 and its 200 day moving average price is $10.75. Gemphire Therapeutics has a 52 week low of $8.80 and a 52 week high of $13.98. The firm’s market capitalization is $92.61 million.
In related news, insider David Lowenschuss bought 11,120 shares of the stock in a transaction on Wednesday, August 10th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $111,200.00. Following the purchase, the insider now owns 806,247 shares of the company’s stock, valued at approximately $8,062,470. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mina Sooch bought 52,500 shares of the stock in a transaction on Wednesday, August 10th. The stock was bought at an average price of $10.00 per share, for a total transaction of $525,000.00. Following the completion of the purchase, the chief executive officer now directly owns 693,732 shares in the company, valued at approximately $6,937,320. The disclosure for this purchase can be found here.
About Gemphire Therapeutics
Gemphire Therapeutics Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing therapies for the treatment of dyslipidemia. It is developing its product candidate Gemcabene (CI-1027), 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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