Zacks: Analysts Expect Gemphire Therapeutics Inc. (GEMP) Will Announce Earnings of -$0.80 Per Share
Brokerages expect Gemphire Therapeutics Inc. (NASDAQ:GEMP) to report ($0.80) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Gemphire Therapeutics’ earnings. Gemphire Therapeutics reported earnings of ($0.42) per share during the same quarter last year, which indicates a negative year over year growth rate of 90.5%. The business is scheduled to report its next quarterly earnings report on Wednesday, September 13th.
According to Zacks, analysts expect that Gemphire Therapeutics will report full-year earnings of ($2.78) per share for the current fiscal year. For the next fiscal year, analysts forecast that the business will report earnings of ($2.04) per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Gemphire Therapeutics.
Gemphire Therapeutics (NASDAQ:GEMP) last announced its quarterly earnings data on Tuesday, May 9th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.61) by $0.18.
A number of equities research analysts have commented on GEMP shares. Zacks Investment Research upgraded shares of Gemphire Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. Canaccord Genuity restated a “buy” rating and set a $17.00 target price on shares of Gemphire Therapeutics in a research note on Wednesday, May 31st. Piper Jaffray Companies initiated coverage on shares of Gemphire Therapeutics in a research report on Monday, April 10th. They set an “overweight” rating and a $30.00 price objective on the stock. Finally, Jefferies Group LLC set a $17.00 price objective on shares of Gemphire Therapeutics and gave the company a “buy” rating in a research report on Wednesday, May 31st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Gemphire Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $21.80.
Several large investors have recently added to or reduced their stakes in the stock. Norris Perne & French LLP MI bought a new stake in Gemphire Therapeutics during the first quarter valued at about $110,000. Renaissance Technologies LLC bought a new stake in Gemphire Therapeutics during the first quarter valued at about $184,000. Exchange Capital Management Inc. bought a new stake in Gemphire Therapeutics during the first quarter valued at about $444,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Gemphire Therapeutics during the first quarter valued at about $1,581,000. Hedge funds and other institutional investors own 27.77% of the company’s stock.
Shares of Gemphire Therapeutics (GEMP) traded up 0.31% during mid-day trading on Thursday, reaching $13.05. 62,043 shares of the company’s stock traded hands. The stock’s market cap is $138.33 million. Gemphire Therapeutics has a 12-month low of $7.25 and a 12-month high of $13.98. The firm’s 50 day moving average price is $10.89 and its 200-day moving average price is $10.24.
About Gemphire Therapeutics
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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