VHCP Management II LLC purchased a new stake in Gemphire Therapeutics Inc (NASDAQ:GEMP) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 513,752 shares of the company’s stock, valued at approximately $1,058,000. Gemphire Therapeutics makes up 0.3% of VHCP Management II LLC’s holdings, making the stock its 19th biggest holding. VHCP Management II LLC owned 3.60% of Gemphire Therapeutics as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of GEMP. BlackRock Inc. raised its holdings in Gemphire Therapeutics by 2,210.5% during the third quarter. BlackRock Inc. now owns 675,038 shares of the company’s stock worth $1,391,000 after purchasing an additional 645,822 shares during the last quarter. Millennium Management LLC acquired a new position in Gemphire Therapeutics during the second quarter worth $1,981,000. Nomura Holdings Inc. acquired a new position in Gemphire Therapeutics during the second quarter worth $556,000. Acadian Asset Management LLC acquired a new position in Gemphire Therapeutics during the second quarter worth $286,000. Finally, JBF Capital Inc. acquired a new position in Gemphire Therapeutics during the second quarter worth $204,000. Hedge funds and other institutional investors own 29.20% of the company’s stock.
GEMP has been the subject of several research reports. Canaccord Genuity reaffirmed a “buy” rating and set a $6.00 price objective on shares of Gemphire Therapeutics in a report on Monday, August 13th. Zacks Investment Research raised Gemphire Therapeutics from a “hold” rating to a “buy” rating and set a $1.75 price objective for the company in a report on Tuesday, August 14th. ValuEngine raised Gemphire Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Jefferies Financial Group cut Gemphire Therapeutics from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a report on Monday, August 13th. Finally, Raymond James cut Gemphire Therapeutics from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a report on Tuesday, August 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $17.13.
Shares of NASDAQ GEMP traded up $0.05 during trading on Wednesday, reaching $1.21. The company had a trading volume of 875,606 shares, compared to its average volume of 70,104. Gemphire Therapeutics Inc has a twelve month low of $0.83 and a twelve month high of $11.43. The stock has a market cap of $16.69 million, a price-to-earnings ratio of -0.37 and a beta of 2.45. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.59.
Gemphire Therapeutics (NASDAQ:GEMP) last released its quarterly earnings results on Thursday, November 8th. The company reported ($0.43) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.04. As a group, analysts anticipate that Gemphire Therapeutics Inc will post -1.88 EPS for the current year.
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Gemphire Therapeutics Profile
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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