Gemphire Therapeutics Inc (GEMP) Given “Buy” Rating at Jefferies Group
Gemphire Therapeutics Inc (NASDAQ:GEMP)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group in a research note issued to investors on Tuesday. They currently have a $17.00 price target on the stock, up from their prior price target of $15.00. Jefferies Group’s price target points to a potential upside of 69.66% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Canaccord Genuity started coverage on shares of Gemphire Therapeutics in a research report on Tuesday, August 30th. They issued a “buy” rating and a $17.00 price target for the company. Laidlaw started coverage on shares of Gemphire Therapeutics in a research report on Tuesday, September 6th. They issued a “buy” rating and a $20.00 price target for the company. RBC Capital Markets reiterated an “outperform” rating and issued a $25.00 price target on shares of Gemphire Therapeutics in a research report on Friday, September 16th. Finally, Royal Bank Of Canada initiated coverage on shares of Gemphire Therapeutics in a report on Tuesday, August 30th. They issued an “outperform” rating and a $25.00 target price on the stock. Five analysts have rated the stock with a buy rating, Gemphire Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $20.80.
Gemphire Therapeutics (NASDAQ:GEMP) traded up 2.30% during trading on Tuesday, hitting $10.25. 21,983 shares of the company traded hands. The stock’s market capitalization is $95.02 million. Gemphire Therapeutics has a 52 week low of $8.80 and a 52 week high of $13.98. The company’s 50 day moving average is $11.33 and its 200-day moving average is $10.86.
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In related news, insider David Lowenschuss bought 11,120 shares of the stock in a transaction dated Wednesday, August 10th. The shares were purchased at an average price of $10.00 per share, with a total value of $111,200.00. Following the completion of the acquisition, the insider now owns 806,247 shares of the company’s stock, valued at $8,062,470. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Jeffrey S. Mathiesen purchased 4,000 shares of the firm’s 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 $40,000.00. Following the purchase, the chief financial officer now owns 3,927 shares of the company’s stock, valued at $39,270. The disclosure for this purchase can be found here.
About Gemphire Therapeutics
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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