Gemphire Therapeutics Inc. (GEMP) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Gemphire Therapeutics Inc. (NASDAQ:GEMP) from a hold rating to a sell rating in a research note released on Tuesday.

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. “

Other analysts also recently issued reports about the stock. HC Wainwright started coverage on shares of Gemphire Therapeutics in a research report on Thursday, August 31st. They set a buy rating and a $21.00 price objective on the stock. Canaccord Genuity set a $31.00 price objective on shares of Gemphire Therapeutics and gave the company a buy rating in a research report on Monday, August 14th. Finally, Jefferies Group LLC cut their price objective on shares of Gemphire Therapeutics from $32.00 to $18.00 and set a buy rating on the stock in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $24.40.

Gemphire Therapeutics (NASDAQ:GEMP) last announced 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).

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northpointe Capital LLC purchased a new stake in shares of Gemphire Therapeutics during the 2nd quarter valued at about $3,472,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Gemphire Therapeutics by 1.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 153,064 shares of the company’s stock valued at $1,959,000 after acquiring an additional 2,500 shares during the last quarter. GM Advisory Group Inc. purchased a new stake in shares of Gemphire Therapeutics during the 2nd quarter valued at about $457,000. Vanguard Group Inc. boosted its holdings in shares of Gemphire Therapeutics by 137.6% during the 2nd quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock valued at $399,000 after acquiring an additional 17,892 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Gemphire Therapeutics during the 1st quarter valued at about $184,000. 29.70% of the stock is currently owned by hedge funds and other institutional investors.

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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