Gemphire Therapeutics Inc. (GEMP) Given New $32.00 Price Target at Jefferies Group LLC
Gemphire Therapeutics Inc. (NASDAQ:GEMP) had its price target increased by Jefferies Group LLC to $32.00 in a report released on Tuesday, August 1st, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Jefferies Group LLC’s target price points to a potential upside of 222.26% from the company’s previous close. Jefferies Group also issued estimates for Gemphire Therapeutics’ FY2018 earnings at ($1.87) EPS, FY2019 earnings at ($1.90) EPS, FY2020 earnings at ($1.38) EPS and FY2021 earnings at ($1.07) EPS.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Gemphire Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. Canaccord Genuity reissued a “buy” rating and issued a $17.00 price target on shares of Gemphire Therapeutics in a research note on Wednesday, May 31st. Finally, Piper Jaffray Companies initiated coverage on shares of Gemphire Therapeutics in a research note on Monday, April 10th. They issued an “overweight” rating and a $30.00 price target for the company. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $24.33.
Shares of Gemphire Therapeutics (GEMP) traded down 8.2588% during mid-day trading on Tuesday, reaching $9.1099. 230,322 shares of the company’s stock traded hands. The stock’s market capitalization is $96.56 million. Gemphire Therapeutics has a 12-month low of $7.25 and a 12-month high of $21.59. The company’s 50-day moving average price is $14.60 and its 200-day moving average price is $11.52.
Gemphire Therapeutics (NASDAQ:GEMP) last posted its quarterly earnings results on Tuesday, May 9th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.61) by $0.18. Analysts anticipate that Gemphire Therapeutics will post ($2.78) earnings per share for the current year.
Several institutional investors have recently bought and sold shares of GEMP. Northpointe Capital LLC bought a new position in Gemphire Therapeutics during the second quarter worth $3,472,000. Cambridge Investment Research Advisors Inc. bought a new position in Gemphire Therapeutics during the first quarter worth $1,581,000. Exchange Capital Management Inc. bought a new position in Gemphire Therapeutics during the first quarter worth $444,000. Renaissance Technologies LLC bought a new position in Gemphire Therapeutics during the first quarter worth $184,000. Finally, Norris Perne & French LLP MI bought a new position in Gemphire Therapeutics during the first quarter worth $110,000. 25.60% of the stock is owned by hedge funds and other 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.
Receive News & Ratings for Gemphire Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gemphire Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.