Gemphire Therapeutics Inc. (NASDAQ:GEMP) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Gemphire Therapeutics Inc. (NASDAQ:GEMP) from a sell rating to a hold rating in a research note published on Monday, October 16th. They currently have $11.00 price objective on the stock.

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 brokerages have also recently issued reports on GEMP. Jefferies Group LLC raised their target price on shares of Gemphire Therapeutics to $32.00 and gave the stock a buy rating in a report on Tuesday, August 1st. Canaccord Genuity set a $31.00 target price on shares of Gemphire Therapeutics and gave the stock a buy rating in a report on Wednesday, July 26th. Finally, HC Wainwright began coverage on shares of Gemphire Therapeutics in a report on Thursday, August 31st. They issued a buy rating and a $21.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $23.33.

Shares of Gemphire Therapeutics (NASDAQ:GEMP) opened at 9.295 on Monday. The stock’s market capitalization is $98.77 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 one year low of $7.25 and a one year high of $11.37.

Gemphire Therapeutics (NASDAQ:GEMP) last issued its quarterly earnings results on Monday, August 14th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.28). Analysts predict that Gemphire Therapeutics will post ($2.98) earnings per share for the current fiscal year.

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Several large investors have recently made changes to their positions in the business. Northpointe Capital LLC increased its stake in shares of Gemphire Therapeutics by 91.8% in the third quarter. Northpointe Capital LLC now owns 520,292 shares of the company’s stock valued at $4,943,000 after purchasing an additional 249,077 shares during the period. Advisory Services Network LLC acquired a new position in shares of Gemphire Therapeutics during the second quarter valued at approximately $139,000. GM Advisory Group Inc. acquired a new position in shares of Gemphire Therapeutics during the second quarter valued at approximately $457,000. Vanguard Group Inc. increased its stake in shares of Gemphire Therapeutics by 137.6% during the second quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock valued at $399,000 after acquiring an additional 17,892 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Gemphire Therapeutics by 1.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 153,064 shares of the company’s stock valued at $1,959,000 after acquiring an additional 2,500 shares during the period. Institutional investors own 29.72% 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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