Bamco Inc. NY Acquires Shares of 286,961 Gemphire Therapeutics Inc. (GEMP)
Bamco Inc. NY acquired a new stake in Gemphire Therapeutics Inc. (NASDAQ:GEMP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 286,961 shares of the company’s stock, valued at approximately $2,709,000. Bamco Inc. NY owned approximately 2.70% of Gemphire Therapeutics at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in GEMP. Northpointe Capital LLC raised its holdings in Gemphire Therapeutics by 91.8% in the third quarter. Northpointe Capital LLC now owns 520,292 shares of the company’s stock worth $4,943,000 after purchasing an additional 249,077 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Gemphire Therapeutics by 4.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 159,964 shares of the company’s stock worth $1,520,000 after purchasing an additional 6,900 shares in the last quarter. Comerica Bank bought a new position in Gemphire Therapeutics in the third quarter worth about $850,000. GM Advisory Group Inc. bought a new position in Gemphire Therapeutics in the second quarter worth about $457,000. Finally, Vanguard Group Inc. raised its holdings in Gemphire Therapeutics by 137.6% in the second quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock worth $399,000 after purchasing an additional 17,892 shares in the last quarter. Hedge funds and other institutional investors own 32.11% of the company’s stock.
GEMP has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. HC Wainwright assumed coverage on Gemphire Therapeutics in a research note on Thursday, August 31st. They set a “buy” rating and a $21.00 price target on the stock. Canaccord Genuity restated a “buy” rating on shares of Gemphire Therapeutics in a research note on Friday, October 13th. Roth Capital assumed coverage on Gemphire Therapeutics in a research note on Thursday, October 19th. They set a “buy” rating and a $30.00 price target on the stock. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $22.00 price target on shares of Gemphire Therapeutics in a research note on Friday, October 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $22.17.
Shares of Gemphire Therapeutics Inc. (NASDAQ:GEMP) opened at $8.01 on Friday. Gemphire Therapeutics Inc. has a 52 week low of $7.20 and a 52 week high of $21.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.17 and a current ratio of 4.17.
Gemphire Therapeutics (NASDAQ:GEMP) last issued its quarterly earnings results on Monday, November 13th. The company reported ($0.82) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.68) by ($0.14). equities research analysts predict that Gemphire Therapeutics Inc. will post -3.31 earnings per share for the current year.
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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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