Gemphire Therapeutics Inc. (NASDAQ:GEMP) has been assigned a consensus rating of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $24.80.

Several brokerages have recently weighed in on GEMP. Zacks Investment Research downgraded Gemphire Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday. Canaccord Genuity set a $31.00 target price on Gemphire Therapeutics and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, Jefferies Group LLC reduced their target price on Gemphire Therapeutics from $32.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, August 8th.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of Gemphire Therapeutics during the second quarter valued at $139,000. GM Advisory Group Inc. acquired a new position in shares of Gemphire Therapeutics during the second quarter valued at $457,000. Vanguard Group Inc. increased its position in shares of Gemphire Therapeutics by 137.6% in the second quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock valued at $399,000 after buying an additional 17,892 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Gemphire Therapeutics by 1.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 153,064 shares of the company’s stock valued at $1,959,000 after buying an additional 2,500 shares during the last quarter. Finally, Northpointe Capital LLC acquired a new position in shares of Gemphire Therapeutics during the second quarter valued at $3,472,000. 28.18% of the stock is owned by institutional investors and hedge funds.

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Gemphire Therapeutics (NASDAQ GEMP) traded down 4.19% during midday trading on Tuesday, reaching $8.24. 61,915 shares of the company traded hands. The stock’s market capitalization is $87.56 million. Gemphire Therapeutics has a 1-year low of $7.20 and a 1-year high of $21.59. The firm has a 50-day moving average of $14.43 and a 200-day moving average of $11.57.

Gemphire Therapeutics (NASDAQ:GEMP) last announced its earnings results on Monday, August 14th. The company reported ($0.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by $0.28. On average, analysts predict that Gemphire Therapeutics will post ($2.98) earnings per share for the current year.

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.

Analyst Recommendations for Gemphire Therapeutics (NASDAQ:GEMP)

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