Gemphire Therapeutics (GEMP) Lifted to “Buy” at Zacks Investment Research

Gemphire Therapeutics (NASDAQ:GEMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

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 have also recently issued reports about the stock. Jefferies Financial Group cut shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Monday, August 13th. Roth Capital raised their target price on shares of Gemphire Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. ValuEngine raised shares of Gemphire Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Raymond James cut shares of Gemphire Therapeutics from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a research report on Tuesday, August 7th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $6.00 target price on shares of Gemphire Therapeutics in a research report on Monday, August 13th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Gemphire Therapeutics presently has an average rating of “Hold” and an average target price of $17.08.

Shares of GEMP traded down $0.06 during mid-day trading on Thursday, hitting $1.34. The company had a trading volume of 60,652 shares, compared to its average volume of 458,618. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.64 and a current ratio of 4.64. Gemphire Therapeutics has a 1-year low of $0.83 and a 1-year high of $11.43. The stock has a market capitalization of $19.26 million, a PE ratio of -0.41 and a beta of 2.48.

Gemphire Therapeutics (NASDAQ:GEMP) last released its earnings results on Monday, August 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.05. As a group, sell-side analysts expect that Gemphire Therapeutics will post -1.88 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in GEMP. Northern Trust Corp lifted its position in Gemphire Therapeutics by 63.7% during the first quarter. Northern Trust Corp now owns 30,080 shares of the company’s stock valued at $196,000 after buying an additional 11,708 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Gemphire Therapeutics during the second quarter valued at approximately $286,000. JBF Capital Inc. acquired a new position in Gemphire Therapeutics during the second quarter valued at approximately $204,000. Millennium Management LLC acquired a new position in Gemphire Therapeutics during the second quarter valued at approximately $1,981,000. Finally, Nomura Holdings Inc. acquired a new position in Gemphire Therapeutics during the second quarter valued at approximately $556,000. 31.13% of the stock is currently owned by hedge funds and other institutional investors.

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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