Zacks Investment Research lowered shares of Gemphire Therapeutics (NASDAQ:GEMP) from a strong-buy rating to a hold rating in a report published on Wednesday morning.
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. “
GEMP has been the topic of several other research reports. Roth Capital reiterated a neutral rating and issued a $30.00 target price on shares of Gemphire Therapeutics in a research note on Friday, August 10th. Jefferies Financial Group lowered Gemphire Therapeutics from a buy rating to a hold rating and set a $15.00 target price on the stock. in a research note on Monday, August 13th. Canaccord Genuity reiterated a buy rating and issued a $6.00 target price on shares of Gemphire Therapeutics in a research note on Monday, August 13th. ValuEngine upgraded Gemphire Therapeutics from a sell rating to a hold rating in a research note on Thursday, July 5th. Finally, Raymond James lowered Gemphire Therapeutics from an outperform rating to a market perform rating and set a $22.00 target price on the stock. in a research note on Tuesday, August 7th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $17.82.
Shares of Gemphire Therapeutics stock traded down $0.01 during trading on Wednesday, hitting $1.77. 101,753 shares of the stock traded hands, compared to its average volume of 480,611. The firm has a market cap of $29.39 million, a P/E ratio of -0.55 and a beta of 0.90. The company has a current ratio of 4.64, a quick ratio of 4.64 and a debt-to-equity ratio of 0.50. Gemphire Therapeutics has a 52-week low of $0.83 and a 52-week high of $11.43.
Gemphire Therapeutics (NASDAQ:GEMP) last posted its earnings results on Monday, August 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.05. Analysts forecast that Gemphire Therapeutics will post -1.99 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC purchased a new position in Gemphire Therapeutics in the second quarter valued at about $1,981,000. Highland Capital Management LP acquired a new stake in Gemphire Therapeutics in the first quarter worth about $700,000. Nomura Holdings Inc. acquired a new stake in Gemphire Therapeutics in the second quarter worth about $556,000. Northern Trust Corp boosted its holdings in Gemphire Therapeutics by 63.7% in the first quarter. Northern Trust Corp now owns 30,080 shares of the company’s stock worth $196,000 after acquiring an additional 11,708 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in Gemphire Therapeutics by 100.0% in the first quarter. Segall Bryant & Hamill LLC now owns 30,000 shares of the company’s stock worth $195,000 after acquiring an additional 15,000 shares in the last quarter. Institutional investors own 32.60% of the company’s stock.
About Gemphire Therapeutics
Gemphire Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and non-alcoholic steatohepatitis (NASH). It is developing gemcabene, a novel, once-daily, oral therapy, for high risk cardiovascular patients who are unable to achieve normal levels of LDL-C or triglycerides with currently approved therapies, primarily statin therapy, and for those patients who present with NASH.
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