Gemphire Therapeutics Inc (GEMP) Given Buy Rating at Jefferies Group
Gemphire Therapeutics Inc (NASDAQ:GEMP)‘s stock had its “buy” rating reiterated by Jefferies Group in a report issued on Tuesday. They currently have a $17.00 target price on the stock, up from their prior target price of $15.00. Jefferies Group’s price objective points to a potential upside of 69.66% from the stock’s current price.
A number of other analysts have also recently weighed in on the stock. RBC Capital Markets reaffirmed an “outperform” rating and set a $25.00 target price on shares of Gemphire Therapeutics in a research note on Friday, September 16th. Laidlaw initiated coverage on shares of Gemphire Therapeutics in a research note on Tuesday, September 6th. They set a “buy” rating and a $20.00 target price on the stock. Royal Bank Of Canada initiated coverage on shares of Gemphire Therapeutics in a research note on Tuesday, August 30th. They set an “outperform” rating and a $25.00 target price on the stock. Finally, Canaccord Genuity initiated coverage on shares of Gemphire Therapeutics in a research note on Tuesday, August 30th. They set a “buy” rating and a $17.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, Gemphire Therapeutics presently has a consensus rating of “Buy” and an average price target of $20.80.
Gemphire Therapeutics (NASDAQ:GEMP) traded up 2.30% on Tuesday, hitting $10.25. The stock had a trading volume of 21,983 shares. Gemphire Therapeutics has a 1-year low of $8.80 and a 1-year high of $13.98. The company’s 50 day moving average is $11.33 and its 200-day moving average is $10.86. The firm’s market capitalization is $95.02 million.
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In other news, CEO Mina Sooch acquired 52,500 shares of Gemphire Therapeutics stock in a transaction on Wednesday, August 10th. The stock was acquired at an average cost of $10.00 per share, with a total value of $525,000.00. Following the transaction, the chief executive officer now owns 693,732 shares of the company’s stock, valued at approximately $6,937,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Lowenschuss acquired 11,120 shares of Gemphire Therapeutics stock in a transaction on Wednesday, August 10th. The stock was purchased at an average cost of $10.00 per share, with a total value of $111,200.00. Following the completion of the transaction, the insider now directly owns 806,247 shares in the company, valued at approximately $8,062,470. The disclosure for this purchase can be found here.
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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