Gemphire Therapeutics (NASDAQ:GEMP)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued to clients and investors on Thursday. They presently have a $28.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 187.47% from the company’s previous close.
A number of other analysts also recently weighed in on GEMP. Zacks Investment Research downgraded shares of Gemphire Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Canaccord Genuity reaffirmed a “buy” rating on shares of Gemphire Therapeutics in a research report on Friday, October 13th. Roth Capital started coverage on shares of Gemphire Therapeutics in a research report on Thursday, October 19th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $22.00 price objective on shares of Gemphire Therapeutics in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.17.
Gemphire Therapeutics (NASDAQ GEMP) traded down $0.09 during trading hours on Thursday, hitting $9.74. 22,100 shares of the stock were exchanged, compared to its average volume of 58,425. The stock has a market cap of $109.41, a P/E ratio of -2.88 and a beta of 3.07. The company has a quick ratio of 4.17, a current ratio of 4.17 and a debt-to-equity ratio of 1.00. Gemphire Therapeutics has a 12-month low of $6.61 and a 12-month high of $21.59.
Gemphire Therapeutics (NASDAQ:GEMP) last released its earnings results on Monday, November 13th. The company reported ($0.82) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.68) by ($0.14). analysts expect that Gemphire Therapeutics will post -3.31 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new stake in Gemphire Therapeutics during the 2nd quarter valued at about $139,000. Vanguard Group Inc. grew its position in Gemphire Therapeutics by 137.6% during the 2nd 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. Comerica Bank purchased a new stake in Gemphire Therapeutics during the 3rd quarter valued at about $850,000. Cambridge Investment Research Advisors Inc. grew its position in Gemphire Therapeutics by 4.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 159,964 shares of the company’s stock valued at $1,520,000 after purchasing an additional 6,900 shares during the last quarter. Finally, Bamco Inc. NY purchased a new stake in Gemphire Therapeutics during the 3rd quarter valued at about $2,709,000. 32.21% of the stock is currently owned by institutional investors.
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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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