Gemphire Therapeutics Inc. (GEMP) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Gemphire Therapeutics Inc. (NASDAQ:GEMP) in a report published on Tuesday. They currently have a $22.00 price objective on the stock, up from their previous price objective of $21.00.

Several other analysts have also issued reports on the company. Zacks Investment Research lowered Gemphire Therapeutics from a buy rating to a hold rating in a report on Friday, July 21st. Canaccord Genuity reaffirmed a buy rating and issued a $31.00 price objective on shares of Gemphire Therapeutics in a research note on Monday, October 23rd. Piper Jaffray Companies reaffirmed an overweight rating and issued a $22.00 price objective on shares of Gemphire Therapeutics in a research note on Friday, October 27th. Roth Capital started coverage on Gemphire Therapeutics in a research note on Thursday, October 19th. They issued a buy rating and a $30.00 price objective for the company. Finally, Jefferies Group LLC dropped their price objective on Gemphire Therapeutics from $32.00 to $18.00 and set a buy rating for the company in a research note on Tuesday, August 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $22.17.

Shares of Gemphire Therapeutics (NASDAQ:GEMP) opened at $9.50 on Tuesday. Gemphire Therapeutics has a fifty-two week low of $7.20 and a fifty-two week high of $21.59.

Gemphire Therapeutics (NASDAQ:GEMP) last released its quarterly earnings results on Monday, November 13th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.14). equities analysts forecast that Gemphire Therapeutics will post -3.17 EPS for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEMP. Renaissance Technologies LLC bought a new position in shares of Gemphire Therapeutics in the first quarter worth about $184,000. Northpointe Capital LLC bought a new position in shares of Gemphire Therapeutics in the second quarter worth about $3,472,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Gemphire Therapeutics by 1.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 153,064 shares of the company’s stock worth $1,959,000 after buying an additional 2,500 shares in the last quarter. Vanguard Group Inc. lifted its position 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 worth $399,000 after buying an additional 17,892 shares in the last quarter. Finally, GM Advisory Group Inc. purchased a new stake in shares of Gemphire Therapeutics in the second quarter worth about $457,000. 32.91% of the stock is owned by hedge funds and other institutional investors.

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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