Gemphire Therapeutics Inc. (GEMP) Given Consensus Recommendation of “Buy” by Brokerages
Gemphire Therapeutics Inc. (NASDAQ:GEMP) has been assigned an average rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $25.00.
Several equities analysts recently commented on GEMP shares. Canaccord Genuity reissued a “buy” rating and set a $17.00 price target on shares of Gemphire Therapeutics in a research report on Wednesday, May 31st. Jefferies Group LLC set a $17.00 price target on Gemphire Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research raised Gemphire Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Wednesday, July 19th. Finally, HC Wainwright started coverage on Gemphire Therapeutics in a research report on Thursday, August 31st. They set a “buy” rating and a $21.00 price target on the stock.
Institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new stake in Gemphire Therapeutics during the 2nd quarter worth approximately $139,000. GM Advisory Group Inc. purchased a new stake in Gemphire Therapeutics during the 2nd quarter worth approximately $457,000. Vanguard Group Inc. increased its holdings in Gemphire Therapeutics by 137.6% during the 2nd quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock worth $399,000 after purchasing an additional 17,892 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Gemphire Therapeutics by 1.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 153,064 shares of the company’s stock worth $1,959,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Northpointe Capital LLC purchased a new stake in Gemphire Therapeutics during the 2nd quarter worth approximately $3,472,000. 29.73% of the stock is currently owned by hedge funds and other institutional investors.
Gemphire Therapeutics (NASDAQ:GEMP) traded up 0.80% during mid-day trading on Friday, hitting $10.11. 92,538 shares of the company were exchanged. The firm has a 50 day moving average price of $12.16 and a 200 day moving average price of $11.42. Gemphire Therapeutics has a 12 month low of $7.20 and a 12 month high of $21.59. The stock’s market cap is $107.43 million.
Gemphire Therapeutics (NASDAQ:GEMP) last released its quarterly earnings results on Monday, August 14th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.71) by $0.28. Analysts anticipate that Gemphire Therapeutics will post ($3.18) EPS for the current fiscal 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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