Gemphire Therapeutics (GEMP) Downgraded by Zacks Investment Research to Sell

Gemphire Therapeutics (NASDAQ:GEMP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, January 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 equities analysts also recently commented on GEMP. Canaccord Genuity restated a “buy” rating on shares of Gemphire Therapeutics in a research note on Friday, October 13th. Roth Capital started coverage on shares of Gemphire Therapeutics in a research note 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 research note on Friday, October 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 target price (up from $21.00) on shares of Gemphire Therapeutics in a research note on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $23.17.

Gemphire Therapeutics (NASDAQ GEMP) traded down $0.12 during trading on Wednesday, hitting $6.26. 209,005 shares of the stock were exchanged, compared to its average volume of 128,400. Gemphire Therapeutics has a one year low of $6.07 and a one year high of $21.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.17 and a current ratio of 4.17. The firm has a market cap of $87.89, a P/E ratio of -1.85 and a beta of 3.90.

Gemphire Therapeutics (NASDAQ:GEMP) last posted its quarterly earnings data on Monday, November 13th. The company reported ($0.82) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.68) by ($0.14). analysts expect that Gemphire Therapeutics will post -3.31 earnings per share for the current year.

In other news, insider Steven R. Ph.D. Gullans bought 71,429 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average cost of $7.00 per share, for a total transaction of $500,003.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 34.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new position in Gemphire Therapeutics in the 2nd quarter valued at about $139,000. Virtu Financial LLC bought a new position in Gemphire Therapeutics in the 4th quarter valued at about $120,000. Vanguard Group Inc. raised its holdings in Gemphire Therapeutics by 137.6% in the 2nd 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. GM Advisory Group Inc. bought a new position in Gemphire Therapeutics in the 2nd quarter valued at about $457,000. Finally, Comerica Bank bought a new position in Gemphire Therapeutics in the 3rd quarter valued at about $850,000. 27.54% of the stock is currently owned by hedge funds and other 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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