Zacks Investment Research downgraded shares of Gemphire Therapeutics (NASDAQ:GEMP) from a hold rating to a sell rating in a report issued on Wednesday morning.
According to Zacks, “Gemphire Therapeutics Inc. is a biopharmaceutical company. It focused on developing and commercializing therapies for the treatment of dyslipidemia. The company’s product candidate is gemcabene (CI-1027), an oral therapy for patients who are unable to achieve normal levels of LDL-C or triglycerides with currently approved therapies. Gemphire Therapeutics Inc. is headquartered in Northville, Michigan. “
A number of other equities research analysts have also recently weighed in on GEMP. HC Wainwright reaffirmed a buy rating and set a $22.00 price target (up from $21.00) on shares of Gemphire Therapeutics in a report on Tuesday, November 14th. Canaccord Genuity reaffirmed a buy rating on shares of Gemphire Therapeutics in a report on Friday, October 13th. Roth Capital began coverage on Gemphire Therapeutics in a report on Thursday, October 19th. They set a buy rating and a $30.00 price target for the company. Finally, Piper Jaffray Companies reaffirmed an overweight rating and set a $22.00 price target on shares of Gemphire Therapeutics in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $22.17.
Gemphire Therapeutics (NASDAQ:GEMP) last released its quarterly earnings results on Monday, November 13th. The company reported ($0.82) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.68) by ($0.14). equities research analysts forecast that Gemphire Therapeutics will post -3.31 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank bought a new position in Gemphire Therapeutics in the 3rd quarter valued at $850,000. Northpointe Capital LLC boosted its position in shares of Gemphire Therapeutics by 91.8% in the 3rd quarter. Northpointe Capital LLC now owns 520,292 shares of the company’s stock worth $4,943,000 after purchasing an additional 249,077 shares during the last quarter. GM Advisory Group Inc. bought a new position in shares of Gemphire Therapeutics in the 2nd quarter worth $457,000. Bamco Inc. NY bought a new position in shares of Gemphire Therapeutics in the 3rd quarter worth $2,709,000. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Gemphire Therapeutics by 4.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 159,964 shares of the company’s stock worth $1,520,000 after purchasing an additional 6,900 shares during the last quarter. Hedge funds and other institutional investors own 32.11% 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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