Gemphire Therapeutics Inc. (NASDAQ:GEMP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Gemphire Therapeutics Inc. is a biopharmaceutical company. It focused on developing and commercializing therapies for the treatment of dyslipidemia. The company’s product candidate is gemcabene (CI-1027), an oral therapy for patients who are unable to achieve normal levels of LDL-C or triglycerides with currently approved therapies. Gemphire Therapeutics Inc. is headquartered in Northville, Michigan. “

A number of other equities research analysts have also weighed in on GEMP. HC Wainwright reissued a “buy” rating and issued a $22.00 target price (up previously from $21.00) on shares of Gemphire Therapeutics in a research note on Tuesday. Canaccord Genuity set a $31.00 target price on Gemphire Therapeutics and gave the company a “buy” rating in a research note on Tuesday, August 8th. Jefferies Group LLC upped their price target on Gemphire Therapeutics to $32.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Roth Capital initiated coverage on Gemphire Therapeutics in a research report on Thursday, October 19th. They set a “buy” rating and a $30.00 price target for the company. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $22.00 price target on shares of Gemphire Therapeutics in a research report on Friday, October 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Gemphire Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $22.17.

Gemphire Therapeutics (NASDAQ GEMP) traded up $0.14 during midday trading on Friday, hitting $9.50. The stock had a trading volume of 14,375 shares, compared to its average volume of 67,188. Gemphire Therapeutics has a 12 month low of $7.20 and a 12 month high of $21.59.

Gemphire Therapeutics (NASDAQ:GEMP) last released its earnings results on Monday, November 13th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.14). analysts expect that Gemphire Therapeutics will post -3.17 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This piece of content was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/11/17/gemphire-therapeutics-inc-gemp-rating-lowered-to-hold-at-zacks-investment-research.html.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GEMP. Bamco Inc. NY purchased a new position in shares of Gemphire Therapeutics during the 3rd quarter worth approximately $2,709,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Gemphire Therapeutics by 4.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 159,964 shares of the company’s stock worth $1,520,000 after acquiring an additional 6,900 shares during the period. Comerica Bank purchased a new position in shares of Gemphire Therapeutics during the 3rd quarter worth approximately $850,000. Northpointe Capital LLC grew its holdings in shares of Gemphire Therapeutics by 91.8% during the 3rd quarter. Northpointe Capital LLC now owns 520,292 shares of the company’s stock worth $4,943,000 after acquiring an additional 249,077 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of Gemphire Therapeutics during the 2nd quarter worth approximately $139,000. 32.91% of the stock is owned by institutional investors and hedge funds.

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)

Receive News & Stock Ratings for Gemphire Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gemphire Therapeutics Inc. and related stocks with our FREE daily email newsletter.