Gemphire Therapeutics’ (GEMP) “Buy” Rating Reaffirmed at Canaccord Genuity
Gemphire Therapeutics Inc. (NASDAQ:GEMP)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity in a research note issued on Monday. They presently have a $31.00 target price on the stock. Canaccord Genuity’s target price suggests a potential upside of 225.63% from the stock’s current price.
Several other research firms also recently weighed in on GEMP. Jefferies Group LLC dropped their price target on Gemphire Therapeutics from $32.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, August 8th. Zacks Investment Research upgraded Gemphire Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Wednesday, July 19th. HC Wainwright initiated coverage on Gemphire Therapeutics in a research note on Thursday, August 31st. They set a “buy” rating and a $21.00 price target on the stock. Finally, Roth Capital initiated coverage on Gemphire Therapeutics in a research note on Thursday. They set a “buy” rating and a $30.00 price target on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $23.50.
Shares of Gemphire Therapeutics (GEMP) traded up 2.15% on Monday, reaching $9.52. The company’s stock had a trading volume of 48,886 shares. The firm has a 50 day moving average price of $9.65 and a 200-day moving average price of $9.65. Gemphire Therapeutics has a 12-month low of $7.20 and a 12-month high of $21.59. The stock’s market cap is $101.16 million.
Gemphire Therapeutics (NASDAQ:GEMP) last posted its quarterly earnings results on Monday, August 14th. The company reported ($0.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by ($0.28). Equities research analysts expect that Gemphire Therapeutics will post ($3.18) EPS for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in shares of Gemphire Therapeutics in the second quarter worth about $139,000. Renaissance Technologies LLC purchased a new stake in shares of Gemphire Therapeutics in the first quarter worth about $184,000. Vanguard Group Inc. boosted its stake in shares of Gemphire Therapeutics by 137.6% in the second quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock worth $399,000 after buying an additional 17,892 shares during the last quarter. GM Advisory Group Inc. purchased a new stake in shares of Gemphire Therapeutics in the second quarter worth about $457,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Gemphire Therapeutics by 1.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 153,064 shares of the company’s stock worth $1,959,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 29.70% of the company’s stock.
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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