Canaccord Genuity reiterated their buy rating on shares of Gemphire Therapeutics Inc. (NASDAQ:GEMP) in a report released on Monday. The brokerage currently has a $31.00 price objective on the stock.

Several other equities research analysts also recently commented on GEMP. Zacks Investment Research upgraded shares of Gemphire Therapeutics from a hold rating to a buy rating and set a $19.00 price objective for the company in a research note on Wednesday, July 19th. Jefferies Group LLC lifted their price objective on shares of Gemphire Therapeutics to $32.00 and gave the stock a buy rating in a research note on Tuesday, August 1st. HC Wainwright initiated coverage on shares of Gemphire Therapeutics in a research note on Thursday, August 31st. They set a buy rating and a $21.00 price objective for the company. Finally, Roth Capital initiated coverage on shares of Gemphire Therapeutics in a research note on Thursday, October 19th. They set a buy rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $22.00.

Gemphire Therapeutics (GEMP) traded up 12.75% during trading on Monday, hitting $10.48. The stock had a trading volume of 39,559 shares. The firm has a 50 day moving average of $9.65 and a 200-day moving average of $9.65. Gemphire Therapeutics has a 12 month low of $7.25 and a 12 month high of $11.37. The stock’s market cap is $111.36 million.

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

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northpointe Capital LLC lifted its position in Gemphire Therapeutics by 91.8% during the third quarter. Northpointe Capital LLC now owns 520,292 shares of the company’s stock valued at $4,943,000 after purchasing an additional 249,077 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Gemphire Therapeutics by 1.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 153,064 shares of the company’s stock valued at $1,959,000 after purchasing an additional 2,500 shares during the period. GM Advisory Group Inc. acquired a new position in Gemphire Therapeutics during the second quarter valued at $457,000. Vanguard Group Inc. lifted its position in Gemphire Therapeutics by 137.6% during the second quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock valued at $399,000 after purchasing an additional 17,892 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Gemphire Therapeutics during the first quarter valued at $184,000. Institutional investors own 29.72% of the company’s stock.

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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