Jefferies Group Comments on Gemphire Therapeutics Inc’s Q1 2017 Earnings (GEMP)
Gemphire Therapeutics Inc (NASDAQ:GEMP) – Research analysts at Jefferies Group issued their Q1 2017 earnings per share estimates for Gemphire Therapeutics in a report released on Thursday. Jefferies Group analyst M. Andrews anticipates that the firm will earn ($0.84) per share for the quarter. Jefferies Group has a “Buy” rating and a $17.00 price objective on the stock. Jefferies Group also issued estimates for Gemphire Therapeutics’ Q2 2017 earnings at ($0.79) EPS, Q3 2017 earnings at ($0.66) EPS, Q4 2017 earnings at ($0.55) EPS and FY2021 earnings at ($1.46) EPS.
Several other analysts have also recently commented on GEMP. Zacks Investment Research upgraded Gemphire Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, December 5th. Canaccord Genuity reiterated a “buy” rating and set a $17.00 price target on shares of Gemphire Therapeutics in a research report on Thursday, January 5th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Gemphire Therapeutics presently has an average rating of “Buy” and an average price target of $19.75.
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Shares of Gemphire Therapeutics (NASDAQ:GEMP) opened at 10.1243 on Monday. The stock’s 50 day moving average price is $9.86 and its 200 day moving average price is $9.94. Gemphire Therapeutics has a 52-week low of $7.25 and a 52-week high of $13.98. The company’s market capitalization is $93.85 million.
Gemphire Therapeutics (NASDAQ:GEMP) last released its earnings results on Wednesday, March 15th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.54) by $0.24.
Hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. purchased a new position in Gemphire Therapeutics during the third quarter worth about $3,976,000. Spark Investment Management LLC purchased a new position in Gemphire Therapeutics during the third quarter worth about $198,000. Monashee Investment Management LLC purchased a new position in Gemphire Therapeutics during the third quarter worth about $144,000. Finally, Blue Clay Capital Management LLC purchased a new position in Gemphire Therapeutics during the third quarter worth about $131,000. Institutional investors own 14.85% of the company’s stock.
In related news, Director Andy Sassine bought 21,119 shares of the company’s stock in a transaction on Friday, March 10th. The stock was bought at an average cost of $9.47 per share, for a total transaction of $199,996.93. Following the acquisition, the director now directly owns 136,264 shares in the company, valued at $1,290,420.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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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