Gemphire Therapeutics (GEMP) Sets New 12-Month Low at $7.13

Gemphire Therapeutics Inc (NASDAQ:GEMP) shares reached a new 52-week low on Wednesday . The stock traded as low as $7.13 and last traded at $7.49, with a volume of 42300 shares traded. The stock had previously closed at $7.92.

Several research analysts recently weighed in on the stock. Roth Capital restated a “buy” rating and issued a $30.00 price objective on shares of Gemphire Therapeutics in a research report on Friday, December 22nd. Zacks Investment Research cut shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. HC Wainwright restated a “buy” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Gemphire Therapeutics in a research report on Tuesday, November 14th. Piper Jaffray Companies restated an “overweight” rating and issued a $22.00 price objective on shares of Gemphire Therapeutics in a research report on Friday, October 27th. Finally, Canaccord Genuity restated a “buy” rating and issued a $31.00 price objective on shares of Gemphire Therapeutics in a research report on Monday, October 23rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $22.17.

The company has a quick ratio of 4.17, a current ratio of 4.17 and a debt-to-equity ratio of 1.00. The firm has a market cap of $77.99 and a PE ratio of -2.57.

Gemphire Therapeutics (NASDAQ:GEMP) last posted its quarterly earnings data on Monday, November 13th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.14). research analysts anticipate that Gemphire Therapeutics Inc will post -3.31 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. raised its position in shares of Gemphire Therapeutics by 4.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 159,964 shares of the company’s stock valued at $1,520,000 after acquiring an additional 6,900 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Gemphire Therapeutics during the 2nd quarter valued at $139,000. Vanguard Group Inc. raised its position in shares of Gemphire Therapeutics by 137.6% during the 2nd quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock valued at $399,000 after acquiring an additional 17,892 shares during the last quarter. GM Advisory Group Inc. bought a new stake in shares of Gemphire Therapeutics during the 2nd quarter valued at $457,000. Finally, Comerica Bank bought a new stake in shares of Gemphire Therapeutics during the 3rd quarter valued at $850,000. Institutional investors own 32.11% of the company’s stock.

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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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