Gemphire Therapeutics Inc. (NASDAQ:GEMP) had its price target trimmed by Jefferies Group LLC from $32.00 to $18.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a buy rating on the stock. Jefferies Group also issued estimates for Gemphire Therapeutics’ FY2018 earnings at ($1.92) EPS, FY2019 earnings at ($2.00) EPS, FY2020 earnings at ($1.48) EPS and FY2021 earnings at ($1.31) EPS.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Gemphire Therapeutics from a hold rating to a strong-buy rating and set a $22.00 price objective for the company in a research note on Thursday, August 3rd. Canaccord Genuity set a $31.00 price objective on Gemphire Therapeutics and gave the company a buy rating in a research note on Wednesday, July 26th. Finally, Piper Jaffray Companies assumed coverage on Gemphire Therapeutics in a research note on Monday, April 10th. They set an overweight rating and a $30.00 price objective for the company. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Gemphire Therapeutics currently has a consensus rating of Buy and an average price target of $24.33.
Gemphire Therapeutics (NASDAQ GEMP) opened at 8.63 on Tuesday. The stock’s 50 day moving average price is $14.98 and its 200-day moving average price is $11.63. The firm’s market capitalization is $91.48 million. Gemphire Therapeutics has a 12 month low of $7.20 and a 12 month high of $21.59.
Gemphire Therapeutics (NASDAQ:GEMP) last announced its quarterly earnings data on Tuesday, May 9th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.61) by $0.18. Equities analysts anticipate that Gemphire Therapeutics will post ($2.78) EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. GM Advisory Group Inc. acquired a new position in Gemphire Therapeutics during the second quarter valued at $457,000. Vanguard Group Inc. boosted its position in 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 buying an additional 17,892 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Gemphire Therapeutics by 1.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 153,064 shares of the company’s stock valued at $1,959,000 after buying an additional 2,500 shares in the last quarter. Northpointe Capital LLC acquired a new position in Gemphire Therapeutics during the second quarter valued at $3,472,000. Finally, Renaissance Technologies LLC acquired a new position in Gemphire Therapeutics during the first quarter valued at $184,000. Hedge funds and other institutional investors own 25.60% of the company’s stock.
Gemphire Therapeutics Company Profile
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.
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