Short Interest in Gemphire Therapeutics Inc (NASDAQ:GEMP) Increases By 30.4%

Gemphire Therapeutics Inc (NASDAQ:GEMP) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 516,900 shares, an increase of 30.4% from the May 30th total of 396,300 shares. Currently, 5.1% of the shares of the company are sold short. Based on an average daily volume of 75,200 shares, the short-interest ratio is presently 6.9 days.

Several equities analysts have weighed in on GEMP shares. Laidlaw raised Gemphire Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Zacks Investment Research lowered Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, ValuEngine lowered Yirendai from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Gemphire Therapeutics presently has a consensus rating of “Hold” and an average price target of $14.90.

Shares of NASDAQ:GEMP traded down $0.03 during trading on Friday, hitting $0.72. 27,526 shares of the company were exchanged, compared to its average volume of 182,231. The firm has a market cap of $10.70 million, a P/E ratio of -0.42 and a beta of 2.90. The firm’s 50 day moving average is $0.87. Gemphire Therapeutics has a 52-week low of $0.57 and a 52-week high of $8.42.

Gemphire Therapeutics (NASDAQ:GEMP) last posted its earnings results on Thursday, May 9th. The company reported ($0.27) earnings per share (EPS) for the quarter.

About Gemphire Therapeutics

Gemphire Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and nonalcoholic fatty liver disease (NAFLD/NASH). The company is developing gemcabene, a novel, once-daily, and oral therapy for dyslipidemia conditions where patients are unable to reach their lipid lowering goals, including patients already receiving maximally tolerated statin therapy.

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