Zacks Investment Research Upgrades Gemphire Therapeutics (NASDAQ:GEMP) to Buy

Gemphire Therapeutics (NASDAQ:GEMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, November 16th. The brokerage presently has a $10.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 12.99% from the stock’s current price.

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 also recently commented on the company. Canaccord Genuity reissued a “buy” rating and issued a $31.00 price target on shares of Gemphire Therapeutics in a report on Monday, October 23rd. Roth Capital initiated coverage on Gemphire Therapeutics in a research note on Thursday, October 19th. They set a “buy” rating and a $30.00 price objective on the stock. HC Wainwright began coverage on Gemphire Therapeutics in a research note on Thursday, August 31st. They set a “buy” rating and a $21.00 price objective on the stock. Jefferies Group dropped their price target on Gemphire Therapeutics from $32.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $22.00 target price on shares of Gemphire Therapeutics in a research report on Friday, October 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.17.

Gemphire Therapeutics (GEMP) traded down $0.23 during trading on Thursday, hitting $8.85. The company had a trading volume of 22,829 shares, compared to its average volume of 22,834. Gemphire Therapeutics has a 12-month low of $7.20 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.

Gemphire Therapeutics (NASDAQ:GEMP) last released its earnings results on Monday, November 13th. The company reported ($0.82) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.14). equities analysts anticipate that Gemphire Therapeutics will post -3.26 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in GEMP. Bamco Inc. NY purchased a new stake in shares of Gemphire Therapeutics during the third quarter worth $2,709,000. Northpointe Capital LLC bought a new position in Gemphire Therapeutics during the second quarter valued at about $3,472,000. Comerica Bank acquired a new stake in shares of Gemphire Therapeutics in the third quarter valued at about $850,000. GM Advisory Group Inc. acquired a new stake in shares of Gemphire Therapeutics in the second quarter valued at about $457,000. Finally, Vanguard Group Inc. grew its position in shares of Gemphire Therapeutics by 137.6% in the second quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock valued at $399,000 after purchasing an additional 17,892 shares during the last quarter. Institutional investors and hedge funds own 32.11% of the company’s stock.

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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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