Gemphire Therapeutics Inc (GEMP) Earns Overweight Rating from Piper Jaffray Companies
Piper Jaffray Companies restated their overweight rating on shares of Gemphire Therapeutics Inc (NASDAQ:GEMP) in a report published on Friday morning, MarketBeat reports. They currently have a $22.00 target price on the stock.
A number of other research firms also recently issued reports on GEMP. Jefferies Group LLC raised their target price on Gemphire Therapeutics to $32.00 and gave the stock a buy rating in a research report on Tuesday, August 1st. Zacks Investment Research raised Gemphire Therapeutics from a hold rating to a strong-buy rating and set a $22.00 target price for the company in a research report on Thursday, August 3rd. Canaccord Genuity set a $31.00 target price on Gemphire Therapeutics and gave the stock a buy rating in a research report on Wednesday, July 26th. Finally, Roth Capital began coverage on Gemphire Therapeutics in a research report on Thursday, October 19th. They issued a buy rating and a $30.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Gemphire Therapeutics presently has a consensus rating of Buy and an average target price of $22.00.
Gemphire Therapeutics (NASDAQ GEMP) traded down 0.29% on Friday, hitting $10.19. The company’s stock had a trading volume of 37,693 shares. The stock’s market cap is $108.28 million. The firm has a 50 day moving average of $9.65 and a 200-day moving average of $9.65. Gemphire Therapeutics has a 12 month low of $7.20 and a 12 month high of $21.59.
Gemphire Therapeutics (NASDAQ:GEMP) last released its earnings results on Monday, August 14th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.28). On average, analysts expect that Gemphire Therapeutics will post ($3.00) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in GEMP. Renaissance Technologies LLC purchased a new position in shares of Gemphire Therapeutics in the first quarter valued at $184,000. Northpointe Capital LLC purchased a new position in shares of Gemphire Therapeutics in the second quarter valued at $3,472,000. Cambridge Investment Research Advisors Inc. grew its position in shares of 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 in the last quarter. Vanguard Group Inc. grew its position in shares of 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 in the last quarter. Finally, GM Advisory Group Inc. purchased a new position in shares of Gemphire Therapeutics in the second quarter valued at $457,000. Institutional investors own 32.06% of the company’s stock.
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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