Gemphire Therapeutics Inc. (NASDAQ:GEMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $10.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 5.04% from the stock’s previous close.

According to Zacks, “Gemphire Therapeutics Inc. is a biopharmaceutical company. It focused on developing and commercializing therapies for the treatment of dyslipidemia. The company’s product candidate is gemcabene (CI-1027), an oral therapy for patients who are unable to achieve normal levels of LDL-C or triglycerides with currently approved therapies. Gemphire Therapeutics Inc. is headquartered in Northville, Michigan. “

A number of other research analysts have also weighed in on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $31.00 price target on shares of Gemphire Therapeutics in a research note on Monday. Roth Capital began coverage on shares of Gemphire Therapeutics in a research note on Thursday. They issued a “buy” rating and a $30.00 price target on the stock. HC Wainwright began coverage on shares of Gemphire Therapeutics in a research note on Thursday, August 31st. They issued a “buy” rating and a $21.00 price target on the stock. Finally, Jefferies Group LLC decreased their price target on shares of Gemphire Therapeutics from $32.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, August 8th. Six research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $23.33.

Shares of Gemphire Therapeutics (GEMP) traded up 2.15% during trading on Monday, hitting $9.52. The stock had a trading volume of 48,886 shares. The firm’s market cap is $101.16 million. 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.

Gemphire Therapeutics (NASDAQ:GEMP) last issued its quarterly earnings results on Monday, August 14th. The company reported ($0.99) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.28). On average, equities analysts expect that Gemphire Therapeutics will post ($3.18) earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the stock. Northpointe Capital LLC lifted its stake in Gemphire Therapeutics by 91.8% in the 3rd quarter. Northpointe Capital LLC now owns 520,292 shares of the company’s stock valued at $4,943,000 after buying an additional 249,077 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Gemphire Therapeutics by 1.7% in 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 in the last quarter. GM Advisory Group Inc. purchased a new position in Gemphire Therapeutics in the 2nd quarter worth approximately $457,000. Vanguard Group Inc. lifted its stake in Gemphire Therapeutics by 137.6% in 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 in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Gemphire Therapeutics in the 1st quarter worth approximately $184,000. 29.70% of the stock is currently owned by hedge funds and other institutional investors.

Gemphire Therapeutics Company Profile

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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Analyst Recommendations for Gemphire Therapeutics (NASDAQ:GEMP)

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