Gemphire Therapeutics’ (GEMP) Buy Rating Reiterated at HC Wainwright
Gemphire Therapeutics Inc. (NASDAQ:GEMP)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued on Tuesday. They presently have a $22.00 price objective on the stock, up from their previous price objective of $21.00. HC Wainwright’s price target would suggest a potential upside of 145.54% from the stock’s current price.
GEMP has been the topic of several other research reports. Zacks Investment Research cut shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Canaccord Genuity reaffirmed a “buy” rating on shares of Gemphire Therapeutics in a report on Friday, October 13th. Jefferies Group LLC reduced their target price on shares of Gemphire Therapeutics from $32.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, August 8th. Roth Capital initiated coverage on shares of Gemphire Therapeutics in a report on Thursday, October 19th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $22.00 target price on shares of Gemphire Therapeutics in a report on Friday, October 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $22.17.
Gemphire Therapeutics (GEMP) traded down $0.34 during trading on Tuesday, hitting $8.96. 29,000 shares of the stock traded hands, compared to its average volume of 67,945. Gemphire Therapeutics has a 12-month low of $7.20 and a 12-month high of $21.59.
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Several hedge funds have recently added to or reduced their stakes in GEMP. Renaissance Technologies LLC bought a new position in shares of Gemphire Therapeutics during the 1st quarter valued at $184,000. Northpointe Capital LLC bought a new position in shares of Gemphire Therapeutics during the 2nd quarter valued at $3,472,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Gemphire Therapeutics by 1.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 153,064 shares of the company’s stock valued at $1,959,000 after purchasing an additional 2,500 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 acquiring an additional 17,892 shares during the last quarter. Finally, GM Advisory Group Inc. bought a new stake in Gemphire Therapeutics in the 2nd quarter worth $457,000. 32.91% of the stock is currently owned by institutional investors.
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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