Gemphire Therapeutics Inc. (GEMP) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Gemphire Therapeutics Inc. (NASDAQ:GEMP) from a hold rating to a buy rating in a research report released on Monday. They currently have $10.00 price target on the stock.
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. “
Several other research firms have also commented on GEMP. Jefferies Group LLC raised their target price on Gemphire Therapeutics to $32.00 and gave the stock a buy rating in a report on Tuesday, August 1st. Canaccord Genuity set a $31.00 target price on Gemphire Therapeutics and gave the stock a buy rating in a report on Wednesday, July 26th. Roth Capital began coverage on Gemphire Therapeutics in a report on Thursday, October 19th. They set a buy rating and a $30.00 target price on the stock. Finally, HC Wainwright began coverage on Gemphire Therapeutics in a report on Thursday, August 31st. They set a buy rating and a $21.00 target price on the stock. Six analysts have rated the stock with a buy rating, Gemphire Therapeutics presently has a consensus rating of Buy and an average price target of $23.33.
Shares of Gemphire Therapeutics (NASDAQ GEMP) traded up 1.37% on Monday, hitting $9.65. The company had a trading volume of 27,676 shares. The company’s market capitalization is $102.54 million. The stock’s 50-day moving average is $9.65 and its 200 day moving average is $9.65. Gemphire Therapeutics has a 52 week low of $7.20 and a 52 week high of $21.59.
Gemphire Therapeutics (NASDAQ:GEMP) last posted its earnings results on Monday, August 14th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.28). Equities analysts expect that Gemphire Therapeutics will post ($3.18) EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. Northpointe Capital LLC grew its holdings in Gemphire Therapeutics by 91.8% in the third quarter. Northpointe Capital LLC now owns 520,292 shares of the company’s stock valued at $4,943,000 after purchasing an additional 249,077 shares during the period. Advisory Services Network LLC acquired a new stake in Gemphire Therapeutics in the second quarter valued at approximately $139,000. GM Advisory Group Inc. acquired a new stake in Gemphire Therapeutics in the second quarter valued at approximately $457,000. Vanguard Group Inc. grew its holdings in Gemphire Therapeutics by 137.6% in the second 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 period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Gemphire Therapeutics by 1.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 153,064 shares of the company’s stock valued at $1,959,000 after purchasing an additional 2,500 shares during the period. 29.72% of the stock is currently owned by institutional investors.
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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