Insider Buying: Gemphire Therapeutics Inc (GEMP) Insider Purchases 71,429 Shares of Stock

Gemphire Therapeutics Inc (NASDAQ:GEMP) insider Steven R. Ph.D. Gullans purchased 71,429 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were purchased at an average cost of $7.00 per share, with a total value of $500,003.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Gemphire Therapeutics Inc (GEMP) traded down $0.12 on Monday, hitting $6.26. 209,005 shares of the stock traded hands, compared to its average volume of 128,400. Gemphire Therapeutics Inc has a 12-month low of $6.07 and a 12-month high of $21.59. The company has a current ratio of 4.17, a quick ratio of 4.17 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $87.89, a P/E ratio of -1.85 and a beta of 3.90.

Gemphire Therapeutics (NASDAQ:GEMP) last posted its quarterly earnings data on Monday, November 13th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.14). research analysts expect that Gemphire Therapeutics Inc will post -3.31 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank acquired a new position in shares of Gemphire Therapeutics during the third quarter valued at about $850,000. Northpointe Capital LLC increased its holdings in shares of Gemphire Therapeutics by 91.8% during the third quarter. Northpointe Capital LLC now owns 520,292 shares of the company’s stock valued at $4,943,000 after acquiring an additional 249,077 shares in the last quarter. Bamco Inc. NY acquired a new position in shares of Gemphire Therapeutics during the third quarter valued at about $2,709,000. Advisory Services Network LLC acquired a new position in shares of Gemphire Therapeutics during the second quarter valued at about $139,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Gemphire Therapeutics by 4.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 159,964 shares of the company’s stock valued at $1,520,000 after acquiring an additional 6,900 shares in the last quarter. Hedge funds and other institutional investors own 27.54% of the company’s stock.

GEMP has been the subject of several analyst reports. Zacks Investment Research raised shares of Gemphire Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Thursday, November 16th. HC Wainwright reissued a “buy” rating and set a $22.00 price target (up from $21.00) on shares of Gemphire Therapeutics in a research report on Tuesday, November 14th. Roth Capital reissued a “buy” rating and set a $30.00 price target on shares of Gemphire Therapeutics in a research report on Friday, December 22nd. Canaccord Genuity reissued a “buy” rating and set a $31.00 price target on shares of Gemphire Therapeutics in a research report on Monday, October 23rd. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $22.00 price target on shares of Gemphire Therapeutics in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $23.17.

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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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