Gemphire Therapeutics Inc. (NASDAQ:GEMP) – Jefferies Group lowered their FY2017 EPS estimates for shares of Gemphire Therapeutics in a note issued to investors on Wednesday. Jefferies Group analyst M. Andrews now forecasts that the company will post earnings per share of ($3.13) for the year, down from their previous forecast of ($2.98). Jefferies Group has a “Buy” rating and a $18.00 price target 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.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating in a report on Friday. HC Wainwright reissued a “buy” rating and issued a $22.00 price target (up from $21.00) on shares of Gemphire Therapeutics in a report on Tuesday, November 14th. Piper Jaffray Companies reissued an “overweight” rating and issued a $22.00 price target on shares of Gemphire Therapeutics in a report on Friday, October 27th. Canaccord Genuity reissued a “buy” rating and issued a $31.00 price target on shares of Gemphire Therapeutics in a report on Monday, October 23rd. Finally, Roth Capital assumed coverage on shares of Gemphire Therapeutics in a report on Thursday, October 19th. They issued a “buy” rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $22.17.
Gemphire Therapeutics (NASDAQ:GEMP) last posted its quarterly earnings data on Monday, November 13th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.68) by ($0.14).
Large investors have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new position in shares of Gemphire Therapeutics in the 2nd quarter worth about $139,000. Renaissance Technologies LLC purchased a new position in shares of Gemphire Therapeutics in the 1st quarter worth about $184,000. Vanguard Group Inc. lifted its holdings 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 last quarter. GM Advisory Group Inc. purchased a new stake in Gemphire Therapeutics during the second quarter valued at about $457,000. Finally, Comerica Bank purchased a new stake in Gemphire Therapeutics during the third quarter valued at about $850,000. 32.91% of the stock is currently owned by institutional investors.
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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