Gemphire Therapeutics (NASDAQ:GEMP) Downgraded to “Strong Sell” at ValuEngine

Gemphire Therapeutics (NASDAQ:GEMP) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Thursday, February 8th.

A number of other research firms have also weighed in on GEMP. HC Wainwright upped their price objective on Gemphire Therapeutics from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Canaccord Genuity reissued a “buy” rating on shares of Gemphire Therapeutics in a research note on Friday, October 13th. Zacks Investment Research raised Gemphire Therapeutics from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a research note on Monday, October 16th. Roth Capital assumed coverage on Gemphire Therapeutics in a research note on Thursday, October 19th. They set a “buy” rating and a $30.00 price target for the company. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $22.00 price target on shares of Gemphire Therapeutics in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $22.75.

Gemphire Therapeutics (NASDAQ:GEMP) traded down $0.13 during midday trading on Thursday, hitting $6.62. The stock had a trading volume of 74,700 shares, compared to its average volume of 132,488. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.17 and a quick ratio of 4.17. Gemphire Therapeutics has a 1 year low of $6.07 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 for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.14). equities research analysts predict that Gemphire Therapeutics will post -3.31 earnings per share for the current fiscal year.

In other news, insider Steven R. Ph.D. Gullans purchased 71,429 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was bought at an average cost of $7.00 per share, with a total value of $500,003.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 34.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Comerica Bank purchased a new stake in Gemphire Therapeutics during the third quarter valued at approximately $850,000. Northpointe Capital LLC raised its position in Gemphire Therapeutics by 91.8% during 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. Bamco Inc. NY purchased a new stake in Gemphire Therapeutics during the third quarter valued at approximately $2,709,000. Cambridge Investment Research Advisors Inc. raised its position in Gemphire Therapeutics by 4.5% during the third 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 period. Finally, Advisory Services Network LLC purchased a new stake in Gemphire Therapeutics during the second quarter valued at approximately $139,000. Institutional investors and hedge funds own 27.54% 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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