FY2017 EPS Estimates for Gemphire Therapeutics Inc. Cut by Analyst (GEMP)
Gemphire Therapeutics Inc. (NASDAQ:GEMP) – Research analysts at Jefferies Group lowered their FY2017 earnings per share estimates for Gemphire Therapeutics in a research note issued to investors on Wednesday. Jefferies Group analyst M. Andrews now expects that the company will post earnings per share of ($3.13) for the year, down from their previous estimate of ($2.98). Jefferies Group has a “Buy” rating and a $18.00 price objective on the stock. Jefferies Group also issued estimates for Gemphire Therapeutics’ Q4 2017 earnings at ($0.54) EPS, FY2018 earnings at ($1.99) EPS, FY2019 earnings at ($2.06) EPS, FY2020 earnings at ($1.54) EPS and FY2021 earnings at ($1.36) EPS.
Gemphire Therapeutics (NASDAQ:GEMP) last announced its quarterly earnings data on Monday, November 13th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.14). COPYRIGHT VIOLATION NOTICE: “FY2017 EPS Estimates for Gemphire Therapeutics Inc. Cut by Analyst (GEMP)” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/11/18/fy2017-eps-estimates-for-gemphire-therapeutics-inc-cut-by-analyst-gemp.html.
Several other analysts also recently issued reports on GEMP. Zacks Investment Research downgraded shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday. HC Wainwright reissued a “buy” rating and set a $22.00 target price (up from $21.00) on shares of Gemphire Therapeutics in a research note on Tuesday. Finally, Canaccord Genuity set a $31.00 target price on shares of Gemphire Therapeutics and gave the company a “buy” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $22.17.
Shares of Gemphire Therapeutics (NASDAQ:GEMP) opened at $9.50 on Friday. Gemphire Therapeutics has a one year low of $7.20 and a one year high of $21.59.
A number of large investors have recently modified their holdings of the stock. Bamco Inc. NY bought a new stake in Gemphire Therapeutics in the third quarter worth $2,709,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Gemphire Therapeutics by 4.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 159,964 shares of the company’s stock worth $1,520,000 after purchasing an additional 6,900 shares in the last quarter. Comerica Bank bought a new stake in Gemphire Therapeutics in the third quarter worth $850,000. Northpointe Capital LLC boosted its holdings in Gemphire Therapeutics by 91.8% in the third quarter. Northpointe Capital LLC now owns 520,292 shares of the company’s stock worth $4,943,000 after purchasing an additional 249,077 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in Gemphire Therapeutics in the second quarter worth $139,000. Hedge funds and other institutional investors own 32.91% of the company’s stock.
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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