Gemphire Therapeutics (NASDAQ:GEMP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Gemphire Therapeutics Inc. is a biopharmaceutical company. It focused on developing and commercializing therapies for the treatment of dyslipidemia. The company’s product candidate is gemcabene (CI-1027), an oral therapy for patients who are unable to achieve normal levels of LDL-C or triglycerides with currently approved therapies. Gemphire Therapeutics Inc. is headquartered in Northville, Michigan. “

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A number of other equities research analysts have also issued reports on GEMP. Roth Capital reissued a “buy” rating and set a $30.00 target price on shares of Gemphire Therapeutics in a research note on Friday, December 22nd. HC Wainwright lifted their target price on shares of Gemphire Therapeutics from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, ValuEngine lowered shares of Gemphire Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $22.75.

GEMP stock opened at $7.03 on Wednesday. Gemphire Therapeutics has a 52-week low of $6.07 and a 52-week high of $21.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.17 and a current ratio of 4.17. The firm has a market cap of $100.72, a P/E ratio of -2.18 and a beta of 4.66.

Gemphire Therapeutics (NASDAQ:GEMP) last issued its earnings results on Thursday, March 15th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.09. equities analysts anticipate that Gemphire Therapeutics will post -2.55 earnings per share for the current year.

In other Gemphire Therapeutics news, insider Steven R. Ph.D. Gullans acquired 71,429 shares of Gemphire Therapeutics stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average price of $7.00 per share, with a total value of $500,003.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 34.00% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in GEMP. Vanguard Group Inc. lifted its stake in shares of Gemphire Therapeutics by 137.6% in the 2nd quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock valued at $399,000 after purchasing an additional 17,892 shares during the last quarter. Comerica Bank acquired a new stake in shares of Gemphire Therapeutics in the 3rd quarter valued at $850,000. Bamco Inc. NY acquired a new stake in shares of Gemphire Therapeutics in the 3rd quarter valued at $2,709,000. Northpointe Capital LLC lifted its stake in shares of Gemphire Therapeutics by 2.0% in the 4th quarter. Northpointe Capital LLC now owns 530,547 shares of the company’s stock valued at $4,215,000 after purchasing an additional 10,255 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Gemphire Therapeutics in the 4th quarter valued at $120,000. 20.40% of the stock is owned by institutional investors and hedge funds.

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About Gemphire Therapeutics

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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