Gemphire Therapeutics (GEMP) Sees Strong Trading Volume
Shares of Gemphire Therapeutics Inc (NASDAQ:GEMP) saw unusually-strong trading volume on Thursday . Approximately 1,663,094 shares were traded during trading, an increase of 242% from the previous session’s volume of 486,474 shares.The stock last traded at $2.15 and had previously closed at $1.92.
A number of research firms recently commented on GEMP. ValuEngine raised shares of Gemphire Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Roth Capital lifted their price target on shares of Gemphire Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Zacks Investment Research cut shares of Gemphire Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. Raymond James cut shares of Gemphire Therapeutics from an “outperform” rating to a “market perform” rating and set a $22.00 price target on the stock. in a report on Tuesday, August 7th. Finally, Jefferies Financial Group cut shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a report on Monday, August 13th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $17.82.
The company has a quick ratio of 4.64, a current ratio of 4.64 and a debt-to-equity ratio of 0.50.
A number of hedge funds have recently modified their holdings of GEMP. Sphera Funds Management LTD. bought a new stake in Gemphire Therapeutics during the 1st quarter valued at $3,132,000. Millennium Management LLC bought a new stake in Gemphire Therapeutics during the 2nd quarter valued at $1,981,000. Bamco Inc. NY raised its holdings in Gemphire Therapeutics by 33.0% during the 1st quarter. Bamco Inc. NY now owns 510,649 shares of the company’s stock valued at $3,324,000 after acquiring an additional 126,679 shares during the period. Highland Capital Management LP bought a new stake in Gemphire Therapeutics during the 1st quarter valued at $700,000. Finally, DAFNA Capital Management LLC bought a new stake in Gemphire Therapeutics during the 1st quarter valued at $651,000. 32.60% of the stock is currently owned by institutional investors and hedge funds.
Gemphire Therapeutics Company Profile (NASDAQ:GEMP)
Gemphire Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and non-alcoholic steatohepatitis (NASH). It is developing gemcabene, a novel, once-daily, oral therapy, for high risk cardiovascular patients who are unable to achieve normal levels of LDL-C or triglycerides with currently approved therapies, primarily statin therapy, and for those patients who present with NASH.
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