Gemphire Therapeutics (GEMP) Downgraded to “Hold” at Zacks Investment Research

Gemphire Therapeutics (NASDAQ:GEMP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, November 17th.

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 firms also recently issued reports on GEMP. Jefferies Group lifted their price objective on Gemphire Therapeutics to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Canaccord Genuity set a $31.00 price objective on Gemphire Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Roth Capital began coverage on Gemphire Therapeutics in a report on Thursday, October 19th. They issued a “buy” rating and a $30.00 target price for the company. Piper Jaffray Companies reiterated an “overweight” rating and issued a $22.00 target price on shares of Gemphire Therapeutics in a report on Friday, October 27th. Finally, HC Wainwright began coverage on Gemphire Therapeutics in a report on Thursday, August 31st. They issued a “buy” rating and a $21.00 target price for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Gemphire Therapeutics has a consensus rating of “Buy” and a consensus price target of $22.17.

Gemphire Therapeutics (NASDAQ:GEMP) traded down $0.24 during trading hours on Friday, reaching $8.02. The company’s stock had a trading volume of 20,547 shares, compared to its average volume of 65,246. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.17 and a current ratio of 4.17. Gemphire Therapeutics has a 1-year low of $7.20 and a 1-year high of $21.59.

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

Institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of Gemphire Therapeutics in the 2nd quarter worth approximately $139,000. Renaissance Technologies LLC purchased a new position in shares of Gemphire Therapeutics in the 1st quarter worth approximately $184,000. Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 17,892 shares during the period. GM Advisory Group Inc. purchased a new position in Gemphire Therapeutics during the 2nd quarter valued at $457,000. Finally, Comerica Bank purchased a new position in Gemphire Therapeutics during the 3rd quarter valued at $850,000. Hedge funds and other institutional investors own 32.11% of the company’s stock.

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Gemphire Therapeutics Company Profile

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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