Gemphire Therapeutics (NASDAQ:GEMP) Downgraded to “Market Perform” at Raymond James

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Gemphire Therapeutics (NASDAQ:GEMP) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, August 7th, Marketbeat reports. They presently have a $22.00 price objective on the stock.

GEMP has been the subject of several other research reports. ValuEngine raised Gemphire Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Zacks Investment Research downgraded Gemphire Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. Finally, Roth Capital upped their price objective on Gemphire Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Gemphire Therapeutics currently has an average rating of “Hold” and an average price target of $17.82.

Gemphire Therapeutics stock opened at $1.54 on Tuesday. Gemphire Therapeutics has a 1 year low of $0.83 and a 1 year high of $11.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.64 and a quick ratio of 4.64. The company has a market capitalization of $23.54 million, a PE ratio of -0.48 and a beta of 2.91.

Gemphire Therapeutics (NASDAQ:GEMP) last released its quarterly earnings data on Monday, August 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.05. sell-side analysts predict that Gemphire Therapeutics will post -1.99 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Northern Trust Corp increased its position in Gemphire Therapeutics by 63.7% during the 1st quarter. Northern Trust Corp now owns 30,080 shares of the company’s stock valued at $196,000 after purchasing an additional 11,708 shares during the period. Segall Bryant & Hamill LLC increased its position in Gemphire Therapeutics by 100.0% during the 1st quarter. Segall Bryant & Hamill LLC now owns 30,000 shares of the company’s stock valued at $195,000 after purchasing an additional 15,000 shares during the period. JBF Capital Inc. acquired a new stake in Gemphire Therapeutics during the 2nd quarter valued at approximately $204,000. Acadian Asset Management LLC acquired a new stake in Gemphire Therapeutics during the 2nd quarter valued at approximately $286,000. Finally, Nomura Holdings Inc. acquired a new stake in Gemphire Therapeutics during the 2nd quarter valued at approximately $556,000. 31.14% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Gemphire Therapeutics (NASDAQ:GEMP)

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