Gemphire Therapeutics Inc (GEMP) Given “Buy” Rating at Jefferies Group
Jefferies Group restated their buy rating on shares of Gemphire Therapeutics Inc (NASDAQ:GEMP) in a research report report published on Tuesday morning. Jefferies Group currently has a $17.00 price objective on the stock, up from their prior price objective of $15.00.
Other equities research analysts have also issued reports about the company. Canaccord Genuity started coverage on Gemphire Therapeutics in a research report on Tuesday, August 30th. They issued a buy rating and a $17.00 target price on the stock. Laidlaw assumed coverage on Gemphire Therapeutics in a research note on Tuesday, September 6th. They issued a buy rating and a $20.00 price target for the company. RBC Capital Markets reissued an outperform rating and issued a $25.00 price target on shares of Gemphire Therapeutics in a research note on Friday, September 16th. Finally, Royal Bank Of Canada assumed coverage on Gemphire Therapeutics in a research note on Tuesday, August 30th. They issued an outperform rating and a $25.00 price target for the company. Five analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and an average target price of $20.80.
Shares of Gemphire Therapeutics (NASDAQ:GEMP) traded up 6.7303% during trading on Tuesday, hitting $10.6837. 600 shares of the stock were exchanged. The stock’s market cap is $99.04 million. Gemphire Therapeutics has a one year low of $8.80 and a one year high of $13.98. The stock’s 50 day moving average price is $11.33 and its 200 day moving average price is $10.84.
In other news, CEO Mina Sooch bought 52,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was acquired at an average price of $10.00 per share, with a total value of $525,000.00. Following the completion of the purchase, the chief executive officer now directly owns 693,732 shares of the company’s stock, valued at approximately $6,937,320. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider David Lowenschuss bought 11,120 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were purchased at an average cost of $10.00 per share, with a total value of $111,200.00. Following the purchase, the insider now directly owns 806,247 shares of the company’s stock, valued at $8,062,470. The disclosure for this purchase can be found here.
About Gemphire Therapeutics
Gemphire Therapeutics Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing therapies for the treatment of dyslipidemia. It is developing its product candidate Gemcabene (CI-1027), 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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