RBC Capital Markets Reaffirms Outperform Rating for Gemphire Therapeutics Inc (GEMP)
RBC Capital Markets reissued their outperform rating on shares of Gemphire Therapeutics Inc (NASDAQ:GEMP) in a research note published on Friday morning. RBC Capital Markets currently has a $25.00 price objective on the stock.
GEMP has been the topic of a number of other research reports. 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. Canaccord Genuity initiated coverage on Gemphire Therapeutics in a research note on Tuesday, August 30th. They set a buy rating and a $17.00 price target on the stock. Laidlaw began 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. Finally, Royal Bank Of Canada began coverage on Gemphire Therapeutics in a research report on Tuesday, August 30th. They issued an outperform rating and a $25.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Gemphire Therapeutics presently has an average rating of Buy and an average price target of $20.40.
Shares of Gemphire Therapeutics (NASDAQ:GEMP) opened at 9.99 on Friday. Gemphire Therapeutics has a one year low of $8.80 and a one year high of $13.98. The firm’s 50-day moving average is $10.75 and its 200-day moving average is $10.75. The stock’s market capitalization is $92.61 million.
In other Gemphire Therapeutics news, CFO Jeffrey S. Mathiesen bought 4,000 shares of Gemphire Therapeutics stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average cost of $10.00 per share, with a total value of $40,000.00. Following the purchase, the chief financial officer now directly owns 3,927 shares in the company, valued at approximately $39,270. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider David Lowenschuss bought 11,120 shares of Gemphire Therapeutics stock in a transaction dated Wednesday, August 10th. The shares were acquired at an average cost of $10.00 per share, with a total value of $111,200.00. Following the completion of the purchase, the insider now owns 806,247 shares in the company, valued at $8,062,470. The disclosure for this purchase can be found here.
Gemphire Therapeutics Company Profile
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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