GM Advisory Group Inc. bought a new stake in shares of Gemphire Therapeutics Inc. (NASDAQ:GEMP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 35,685 shares of the company’s stock, valued at approximately $457,000. GM Advisory Group Inc. owned 0.34% of Gemphire Therapeutics at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GEMP. Renaissance Technologies LLC bought a new stake in Gemphire Therapeutics during the 1st quarter valued at $184,000. Vanguard Group Inc. raised its holdings in Gemphire Therapeutics by 137.6% during the 2nd quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock valued at $399,000 after acquiring an additional 17,892 shares during the period. Exchange Capital Management Inc. bought a new stake in Gemphire Therapeutics during the 1st quarter valued at $444,000. Cambridge Investment Research Advisors Inc. bought a new stake in Gemphire Therapeutics during the 1st quarter valued at $1,581,000. Finally, Northpointe Capital LLC bought a new stake in Gemphire Therapeutics during the 2nd quarter valued at $3,472,000. 29.70% of the stock is currently owned by institutional investors and hedge funds.

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A number of brokerages have issued reports on GEMP. Canaccord Genuity set a $31.00 target price on shares of Gemphire Therapeutics and gave the company a “buy” rating in a report on Wednesday, July 26th. Zacks Investment Research raised shares of Gemphire Therapeutics from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a report on Thursday, August 3rd. Jefferies Group LLC upped their price target on shares of Gemphire Therapeutics to $32.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Finally, HC Wainwright began coverage on shares of Gemphire Therapeutics in a report on Thursday, August 31st. They issued a “buy” rating and a $21.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $24.40.

Gemphire Therapeutics Inc. (GEMP) traded down 3.42% on Thursday, hitting $9.87. 41,823 shares of the stock traded hands. The stock’s market cap is $104.88 million. Gemphire Therapeutics Inc. has a 52-week low of $7.25 and a 52-week high of $12.99. The company’s 50 day moving average price is $9.25 and its 200-day moving average price is $9.25.

Gemphire Therapeutics (NASDAQ:GEMP) last announced its quarterly earnings data on Monday, August 14th. The company reported ($0.99) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by ($0.28). On average, analysts forecast that Gemphire Therapeutics Inc. will post ($3.18) earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Gemphire Therapeutics (NASDAQ:GEMP)

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