Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Gemphire Therapeutics from a hold rating to a buy rating and set a $10.00 price objective on the stock in a research report on Thursday, November 16th. Canaccord Genuity reiterated a buy rating and set a $31.00 price objective on shares of Gemphire Therapeutics in a research report on Monday, October 23rd. Piper Jaffray Companies reissued an overweight rating and set a $22.00 target price on shares of Gemphire Therapeutics in a research note on Friday, October 27th. Finally, HC Wainwright reissued a buy rating and set a $22.00 target price (up from $21.00) on shares of Gemphire Therapeutics in a research note on Tuesday, November 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $22.17.
Gemphire Therapeutics (NASDAQ:GEMP) traded up $0.26 during mid-day trading on Friday, reaching $8.13. 25,600 shares of the company’s stock were exchanged, compared to its average volume of 63,551. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.17 and a quick ratio of 4.17. Gemphire Therapeutics has a fifty-two week low of $7.20 and a fifty-two week high of $21.59. The company has a market capitalization of $86.45, a PE ratio of -2.41 and a beta of 2.92.
Institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in shares of Gemphire Therapeutics during the second quarter valued at $139,000. Renaissance Technologies LLC purchased a new stake in Gemphire Therapeutics in the first quarter worth about $184,000. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 17,892 shares during the period. GM Advisory Group Inc. purchased a new stake in Gemphire Therapeutics in the second quarter worth about $457,000. Finally, Comerica Bank purchased a new stake in Gemphire Therapeutics in the third quarter worth about $850,000. 32.11% of the stock is owned by hedge funds and other institutional investors.
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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.
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