Gemphire Therapeutics (GEMP) Sets New 1-Year Low at $0.83

Gemphire Therapeutics Inc (NASDAQ:GEMP) reached a new 52-week low during trading on Friday . The company traded as low as $0.83 and last traded at $1.73, with a volume of 169200 shares changing hands. The stock had previously closed at $1.02.

GEMP has been the subject of a number of recent analyst reports. Roth Capital reiterated a “neutral” rating and issued a $30.00 price objective on shares of Gemphire Therapeutics in a report on Friday. Raymond James downgraded Gemphire Therapeutics from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a report on Tuesday, August 7th. ValuEngine upgraded Gemphire Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Finally, Zacks Investment Research cut Gemphire Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $23.42.

The company has a quick ratio of 5.57, a current ratio of 5.57 and a debt-to-equity ratio of 0.37.

A number of large investors have recently bought and sold shares of GEMP. Segall Bryant & Hamill LLC grew its stake in Gemphire Therapeutics by 100.0% in the first quarter. Segall Bryant & Hamill LLC now owns 30,000 shares of the company’s stock valued at $195,000 after acquiring an additional 15,000 shares during the period. Northern Trust Corp grew its stake in Gemphire Therapeutics by 63.7% in the first quarter. Northern Trust Corp now owns 30,080 shares of the company’s stock valued at $196,000 after acquiring an additional 11,708 shares during the period. JBF Capital Inc. acquired a new position in Gemphire Therapeutics in the second quarter valued at about $204,000. Acadian Asset Management LLC acquired a new position in Gemphire Therapeutics in the second quarter valued at about $286,000. Finally, DAFNA Capital Management LLC acquired a new position in Gemphire Therapeutics in the first quarter valued at about $651,000. 33.79% of the stock is owned by hedge funds and other institutional investors.

About Gemphire Therapeutics

Gemphire Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and non-alcoholic steatohepatitis (NASH). It is developing gemcabene, a novel, once-daily, oral therapy, for high risk cardiovascular patients who are unable to achieve normal levels of LDL-C or triglycerides with currently approved therapies, primarily statin therapy, and for those patients who present with NASH.

Read More: Outstanding Shares

Receive News & Ratings for Gemphire Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gemphire Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply