Gemphire Therapeutics Inc. (GEMP) Rating Lowered to Hold at Zacks Investment Research
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) 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.
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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.
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