Gemphire Therapeutics Inc (NASDAQ:GEMP) hit a new 52-week high on Tuesday . The stock traded as high as $11.98 and last traded at $11.31, with a volume of 167,079 shares. The stock had previously closed at $10.15.

GEMP has been the subject of several recent research reports. Canaccord Genuity initiated coverage on Gemphire Therapeutics in a report on Tuesday. They set a “buy” rating and a $17.00 price target for the company. RBC Capital Markets started coverage on Gemphire Therapeutics in a report on Tuesday. They issued an “outperform” rating and a $25.00 target price for the company. Jefferies Group started coverage on Gemphire Therapeutics in a report on Tuesday. They issued a “buy” rating and a $15.00 target price for the company. Finally, Royal Bank Of Canada started coverage on Gemphire Therapeutics in a report on Tuesday. They issued an “outperform” rating and a $25.00 target price for the company.

The firm’s market capitalization is $42.47 million. The company’s 50 day moving average price is $9.87 and its 200-day moving average price is $9.87.

In other news, insider David Lowenschuss purchased 11,120 shares of the stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average cost of $10.00 per share, for a total transaction of $111,200.00. Following the acquisition, the insider now owns 806,247 shares of the company’s stock, valued at $8,062,470. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven R. Ph.D. Gullans purchased 500,000 shares of the stock in a transaction dated Wednesday, August 10th. The stock was purchased at an average price of $10.00 per share, with a total value of $5,000,000.00. The disclosure for this purchase can be found here.

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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