Gemphire Therapeutics Inc (GEMP) Receives Average Recommendation of “Buy” from Brokerages
Gemphire Therapeutics Inc (NASDAQ:GEMP) has been given an average recommendation of “Buy” by the six brokerages that are covering the company. One research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $20.80.
Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of Gemphire Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 7th. Jefferies Group restated a “buy” rating and issued a $17.00 price target (up from $15.00) on shares of Gemphire Therapeutics in a research note on Tuesday, October 18th. Canaccord Genuity set a $17.00 price target on shares of Gemphire Therapeutics and gave the company a “buy” rating in a research note on Saturday, October 15th. RBC Capital Markets restated an “outperform” rating and issued a $25.00 price target on shares of Gemphire Therapeutics in a research note on Friday, September 16th. Finally, Laidlaw assumed coverage on shares of Gemphire Therapeutics in a research note on Tuesday, September 6th. They issued a “buy” rating and a $20.00 price target on the stock.
Shares of Gemphire Therapeutics (NASDAQ:GEMP) opened at 9.12 on Tuesday. The stock’s 50 day moving average price is $10.35 and its 200-day moving average price is $10.55. Gemphire Therapeutics has a 52-week low of $8.80 and a 52-week high of $13.98. The firm’s market cap is $84.54 million.
Gemphire Therapeutics (NASDAQ:GEMP) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by $0.11. On average, equities research analysts anticipate that Gemphire Therapeutics will post ($2.11) earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Gemphire Therapeutics stock. Spark Investment Management LLC acquired 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. The firm acquired 18,200 shares of the company’s stock, valued at approximately $198,000. Spark Investment Management LLC owned 0.20% of Gemphire Therapeutics as of its most recent SEC filing.
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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