Gemphire Therapeutics Inc (NASDAQ:GEMP) Receives $18.25 Consensus Price Target from Analysts

Shares of Gemphire Therapeutics Inc (NASDAQ:GEMP) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.25.

Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Gemphire Therapeutics from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a report on Wednesday, May 1st. ValuEngine upgraded shares of Gemphire Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th.

An institutional investor recently bought a new position in Gemphire Therapeutics stock. Cary Street Partner Investment Advisory LLC purchased a new stake in Gemphire Therapeutics Inc (NASDAQ:GEMP) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 238,557 shares of the company’s stock, valued at approximately $212,000. Cary Street Partner Investment Advisory LLC owned about 1.67% of Gemphire Therapeutics at the end of the most recent reporting period. 24.78% of the stock is owned by hedge funds and other institutional investors.

Shares of Gemphire Therapeutics stock opened at $0.92 on Tuesday. Gemphire Therapeutics has a 12-month low of $0.57 and a 12-month high of $11.43. The firm has a market capitalization of $13.10 million, a PE ratio of -0.54 and a beta of 3.20.

Gemphire Therapeutics (NASDAQ:GEMP) last issued its earnings results on Friday, March 15th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.15. Sell-side analysts expect that Gemphire Therapeutics will post -2.5 earnings per share for the current year.

Gemphire Therapeutics Company Profile

Gemphire Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and nonalcoholic fatty liver disease (NAFLD/NASH). The company is developing gemcabene, a novel, once-daily, and oral therapy for dyslipidemia conditions where patients are unable to reach their lipid lowering goals, including patients already receiving maximally tolerated statin therapy.

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