Gemphire Therapeutics Inc (NASDAQ:GEMP) has earned an average rating of “Buy” from the six analysts that are covering the firm. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $21.80.
A number of equities research analysts have weighed in on the company. Canaccord Genuity set a $17.00 price objective on Gemphire Therapeutics and gave the company a “buy” rating in a report on Thursday, March 16th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Gemphire Therapeutics in a report on Tuesday. Zacks Investment Research lowered Gemphire Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Piper Jaffray Companies assumed coverage on Gemphire Therapeutics in a report on Monday. They issued an “overweight” rating and a $30.00 price objective on the stock.
Gemphire Therapeutics (NASDAQ:GEMP) traded up 1.30% during midday trading on Monday, hitting $11.65. The company had a trading volume of 28,732 shares. The stock’s 50-day moving average price is $10.18 and its 200-day moving average price is $9.86. The stock’s market cap is $108.02 million. Gemphire Therapeutics has a 52-week low of $7.25 and a 52-week high of $13.98.
Gemphire Therapeutics (NASDAQ:GEMP) last announced its quarterly earnings data on Wednesday, March 15th. The company reported ($0.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.54) by $0.24. On average, equities research analysts expect that Gemphire Therapeutics will post ($2.24) EPS for the current fiscal year.
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In other Gemphire Therapeutics news, Director Andy Sassine acquired 21,119 shares of the stock in a transaction on Friday, March 10th. The shares were bought at an average price of $9.47 per share, with a total value of $199,996.93. Following the acquisition, the director now owns 136,264 shares of the company’s stock, valued at $1,290,420.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Large investors have recently made changes to their positions in the stock. Blue Clay Capital Management LLC acquired a new stake in shares of Gemphire Therapeutics during the third quarter worth $131,000. Monashee Investment Management LLC acquired a new stake in shares of Gemphire Therapeutics during the third quarter worth $144,000. Spark Investment Management LLC acquired a new stake in shares of Gemphire Therapeutics during the third quarter worth $198,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Gemphire Therapeutics during the third quarter worth $3,976,000. 14.85% of the stock is currently owned by institutional investors.
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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