Shares of Gemphire Therapeutics Inc (NASDAQ:GEMP) have been given an average recommendation of “Buy” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $17.00.
Several brokerages recently weighed in on GEMP. ValuEngine raised Gemphire Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research raised Gemphire Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, November 1st.
Hedge funds and other institutional investors have recently modified their holdings of the stock. VHCP Management III LLC acquired a new stake in Gemphire Therapeutics in the third quarter valued at $1,791,000. VHCP Management II LLC acquired a new stake in Gemphire Therapeutics in the third quarter valued at $1,058,000. Millennium Management LLC acquired a new stake in Gemphire Therapeutics in the second quarter valued at $1,981,000. Nomura Holdings Inc. acquired a new stake in Gemphire Therapeutics in the second quarter valued at $556,000. Finally, BlackRock Inc. lifted its holdings in Gemphire Therapeutics by 2,210.5% in the third quarter. BlackRock Inc. now owns 675,038 shares of the company’s stock valued at $1,391,000 after acquiring an additional 645,822 shares during the period. 29.20% of the stock is owned by hedge funds and other institutional investors.
GEMP stock opened at $0.89 on Friday. The company has a market capitalization of $12.65 million, a PE ratio of -0.28 and a beta of 2.60. Gemphire Therapeutics has a twelve month low of $0.57 and a twelve month high of $11.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.27 and a quick ratio of 3.27.
Gemphire Therapeutics (NASDAQ:GEMP) last posted its quarterly earnings data on Thursday, November 8th. The company reported ($0.43) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.04. On average, sell-side analysts predict that Gemphire Therapeutics will post -1.88 EPS for the current year.
Gemphire Therapeutics Company Profile
Gemphire Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and non-alcoholic steatohepatitis (NASH). It is developing gemcabene, a novel, once-daily, oral therapy, for high risk cardiovascular patients who are unable to achieve normal levels of LDL-C or triglycerides with currently approved therapies, primarily statin therapy, and for those patients who present with NASH.
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