Gemphire Therapeutics (GEMP) Given New $28.00 Price Target at HC Wainwright

Gemphire Therapeutics (NASDAQ:GEMP) had its price objective hoisted by HC Wainwright from $22.00 to $28.00 in a research report sent to investors on Friday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

GEMP has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Gemphire Therapeutics from a buy rating to a hold rating in a report on Wednesday, October 25th. Canaccord Genuity reaffirmed a buy rating on shares of Gemphire Therapeutics in a report on Friday, October 13th. Roth Capital initiated coverage on shares of Gemphire Therapeutics in a report on Thursday, October 19th. They set a buy rating and a $30.00 target price for the company. Finally, Piper Jaffray Companies reissued an overweight rating and issued a $22.00 price objective on shares of Gemphire Therapeutics in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $23.17.

Shares of Gemphire Therapeutics (NASDAQ GEMP) opened at $10.10 on Friday. Gemphire Therapeutics has a 1-year low of $6.61 and a 1-year high of $21.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.17 and a current ratio of 4.17.

Gemphire Therapeutics (NASDAQ:GEMP) last released its earnings results 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). analysts expect that Gemphire Therapeutics will post -3.31 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Gemphire Therapeutics by 4.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 159,964 shares of the company’s stock valued at $1,520,000 after purchasing an additional 6,900 shares during the period. Northpointe Capital LLC grew its holdings in shares of Gemphire Therapeutics by 2.0% in the fourth quarter. Northpointe Capital LLC now owns 530,547 shares of the company’s stock valued at $4,215,000 after purchasing an additional 10,255 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Gemphire Therapeutics in the second quarter valued at about $139,000. Vanguard Group Inc. grew its holdings in shares of Gemphire Therapeutics by 137.6% in 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 period. Finally, Comerica Bank purchased a new stake in shares of Gemphire Therapeutics in the third quarter valued at about $850,000. 32.21% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Gemphire Therapeutics (NASDAQ:GEMP)

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