Gemphire Therapeutics Inc. (GEMP) Receives $24.40 Average Target Price from Analysts

Shares of Gemphire Therapeutics Inc. (NASDAQ:GEMP) have been assigned a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $24.60.

Several research analysts have commented on GEMP shares. Zacks Investment Research lowered shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. HC Wainwright started coverage on shares of Gemphire Therapeutics in a research note on Thursday, August 31st. They set a “buy” rating and a $21.00 price objective for the company. Canaccord Genuity reaffirmed a “buy” rating and set 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 set a $22.00 price objective on shares of Gemphire Therapeutics in a research note on Friday, October 27th. Finally, Roth Capital started coverage on shares of Gemphire Therapeutics in a research note on Thursday, October 19th. They set a “buy” rating and a $30.00 price objective for the company.

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Gemphire Therapeutics (GEMP) traded up $0.14 during midday trading on Monday, reaching $9.50. 14,375 shares of the company’s stock traded hands, compared to its average volume of 37,601. Gemphire Therapeutics has a 52 week low of $7.20 and a 52 week high of $21.59.

Gemphire Therapeutics (NASDAQ:GEMP) last posted its quarterly earnings data on Monday, November 13th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.14). equities analysts anticipate that Gemphire Therapeutics will post -3.17 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of GEMP. Renaissance Technologies LLC purchased a new stake in shares of Gemphire Therapeutics during the first quarter valued at $184,000. Northpointe Capital LLC purchased a new stake in shares of Gemphire Therapeutics during the second quarter valued at $3,472,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Gemphire Therapeutics by 1.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 153,064 shares of the company’s stock valued at $1,959,000 after purchasing an additional 2,500 shares during the period. Vanguard Group Inc. boosted its stake in shares of Gemphire Therapeutics by 137.6% during the second quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock valued at $399,000 after purchasing an additional 17,892 shares during the period. Finally, GM Advisory Group Inc. purchased a new stake in shares of Gemphire Therapeutics during the second quarter valued at $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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