Gemphire Therapeutics Inc (NASDAQ:GEMP) Given $19.00 Consensus Target Price by Brokerages
Gemphire Therapeutics Inc (NASDAQ:GEMP) has earned a consensus broker rating score of 1.33 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company.
Analysts have set a 12 month consensus price objective of $19.00 for the company and are expecting that the company will post ($0.28) EPS for the current quarter, according to Zacks. Zacks has also assigned Gemphire Therapeutics an industry rank of 92 out of 265 based on the ratings given to related companies.
A number of brokerages recently weighed in on GEMP. RBC Capital Markets reissued an “outperform” rating and set a $25.00 price objective on shares of Gemphire Therapeutics in a report on Friday. Royal Bank Of Canada began coverage on Gemphire Therapeutics in a report on Tuesday, August 30th. They set an “outperform” rating and a $25.00 price objective on the stock. Jefferies Group began coverage on Gemphire Therapeutics in a report on Tuesday, August 30th. They set a “buy” rating and a $15.00 price objective on the stock. Laidlaw began coverage on Gemphire Therapeutics in a report on Tuesday, September 6th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Canaccord Genuity assumed coverage on Gemphire Therapeutics in a report on Tuesday, August 30th. They set a “buy” rating and a $17.00 price objective on the stock.
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In related news, CEO Mina Sooch purchased 52,500 shares of Gemphire Therapeutics stock in a transaction that occurred on Wednesday, August 10th. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $525,000.00. Following the transaction, the chief executive officer now directly owns 693,732 shares in the company, valued at $6,937,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Lowenschuss purchased 11,120 shares of Gemphire Therapeutics stock in a transaction that occurred on Wednesday, August 10th. The shares were bought at an average price of $10.00 per share, for a total transaction of $111,200.00. Following the completion of the transaction, the insider now owns 806,247 shares in the company, valued at $8,062,470. The disclosure for this purchase can be found here.
Gemphire Therapeutics (NASDAQ:GEMP) traded up 1.490% during midday trading on Tuesday, reaching $10.149. 4,288 shares of the company traded hands. Gemphire Therapeutics has a 12 month low of $8.80 and a 12 month high of $13.98. The stock’s market capitalization is $94.08 million. The firm has a 50 day moving average of $10.78 and a 200-day moving average of $10.78.
Gemphire Therapeutics Company Profile
Gemphire Therapeutics Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing therapies for the treatment of dyslipidemia. It is developing its product candidate Gemcabene (CI-1027), 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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