Zacks Investment Research upgraded shares of Gemphire Therapeutics (NASDAQ:GEMP) from a sell rating to a buy rating in a research note published on Thursday morning. The firm currently has $7.50 price target on the stock.
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. “
Other equities research analysts also recently issued research reports about the company. Canaccord Genuity reiterated a buy rating and set a $31.00 price objective on shares of Gemphire Therapeutics in a research report on Monday, October 23rd. Roth Capital initiated coverage on Gemphire Therapeutics in a research report on Thursday, October 19th. They set a buy rating and a $30.00 price objective for the company. HC Wainwright reiterated a buy rating and set a $28.00 price objective on shares of Gemphire Therapeutics in a research report on Thursday, February 1st. Piper Jaffray Companies reiterated an overweight rating and set a $22.00 price objective on shares of Gemphire Therapeutics in a research report on Friday, October 27th. Finally, ValuEngine downgraded Gemphire Therapeutics from a sell rating to a strong sell rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $22.75.
Shares of Gemphire Therapeutics (GEMP) opened at $6.60 on Thursday. Gemphire Therapeutics has a 52-week low of $6.07 and a 52-week 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.
In other Gemphire Therapeutics news, insider Steven R. Ph.D. Gullans bought 71,429 shares of Gemphire Therapeutics stock in a transaction dated Thursday, February 8th. The stock was bought at an average price of $7.00 per share, for a total transaction of $500,003.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 34.00% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Gemphire Therapeutics by 4.5% in 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 in the last quarter. Northpointe Capital LLC lifted its holdings in shares of Gemphire Therapeutics by 2.0% in the fourth quarter. Northpointe Capital LLC now owns 530,547 shares of the company’s stock valued at $4,215,000 after purchasing an additional 10,255 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Gemphire Therapeutics in the second quarter worth $139,000. Virtu Financial LLC acquired a new position in shares of Gemphire Therapeutics in the fourth quarter worth $120,000. Finally, Vanguard Group Inc. increased its stake 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 worth $399,000 after acquiring an additional 17,892 shares during the last quarter. Institutional investors own 27.54% 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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