Shares of Gemphire Therapeutics Inc. (NASDAQ:GEMP) have earned a consensus rating of “Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $24.60.
Several research analysts recently commented on GEMP shares. Canaccord Genuity reiterated a “buy” rating on shares of Gemphire Therapeutics in a research note on Friday, October 13th. Zacks Investment Research lowered shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. HC Wainwright started coverage on shares of Gemphire Therapeutics in a research note on Thursday, August 31st. They set a “buy” rating and a $21.00 price objective for the company. Finally, Roth Capital started coverage on shares of Gemphire Therapeutics in a research note on Thursday, October 19th. They set a “buy” rating and a $30.00 price objective for the company.
Gemphire Therapeutics (NASDAQ:GEMP) traded up $0.48 during midday trading on Friday, hitting $8.12. 41,096 shares of the company traded hands, compared to its average volume of 64,484. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.17 and a quick ratio of 4.17. Gemphire Therapeutics has a 1 year low of $7.20 and a 1 year high of $21.59.
A number of large investors have recently added to or reduced their stakes in GEMP. Bamco Inc. NY purchased a new stake in Gemphire Therapeutics during the 3rd quarter worth approximately $2,709,000. Northpointe Capital LLC purchased a new stake in Gemphire Therapeutics during the 2nd quarter worth approximately $3,472,000. Comerica Bank purchased a new stake in Gemphire Therapeutics during the 3rd quarter worth approximately $850,000. GM Advisory Group Inc. purchased a new stake in Gemphire Therapeutics during the 2nd quarter worth approximately $457,000. Finally, Vanguard Group Inc. grew its position in Gemphire Therapeutics by 137.6% during the 2nd quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock worth $399,000 after purchasing an additional 17,892 shares during the last quarter. 32.11% of the stock is currently owned by 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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